ChiniMandi, Mumbai: 27th March 2024
Domestic Market
Stable to weak sentiment witnessed in domestic sugar prices
Domestic sugar prices in major markets have been reported to be stable to weak, owing to higher monthly quotas than the previous month and the same month last year. Prices have fallen by Rs 10 per quintal in Uttar Pradesh but remain stable in Kolhapur. In comparison to the previous month’s quota of 23.5 lakh tons, the Food Ministry has allocated 25 lakh tons now.
In Muzaffarnagar, M-grade sugar is priced between Rs 3,760 and Rs 3,790 per quintal, while S-grade sugar is expected to cost between Rs 3,400 and Rs 3,440. Agrimandi anticipates that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,380 and Rs 3,460 per quintal within the next two weeks. Sugar grades in Solapur range between Rs 3360 and Rs 3,400 per quintal.
Ex-mill Sugar Prices as on March, 27 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3410 to 3460 |
₹3490 to 3540 |
|
Karnataka |
₹3600 |
₹3650 |
|
Uttar Pradesh |
|
₹3760 to 3790 |
|
Gujarat |
₹3471 to 3501 |
₹3521 to 3561 |
|
Tamil Nadu |
₹3590 to 3700 |
₹3650 to 3725 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3825 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on March, 27 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,000.50 |
|
Kanpur |
M/30 |
₹3,953.25 |
|
Kolhapur |
M/30 |
₹3,717.00 |
|
Kolkata |
M/30 |
₹3,979.50 |
|
Muzaffarnagar |
M/30 |
₹3,948.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $637.30 ton, whereas the New York Sugar #11 front month contract is trading at 21.88 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.321 whereas USD was trading with BRL at 4.9871, Crude futures traded at ₹, Crude WTI traded at $81.08 barrel. Sensex closed 526.01 points higher at 72996.31 whereas Nifty ended 118.95 points higher at 22123.65
News Round-Up
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