ChiniMandi, Mumbai: 27th July 2024
Domestic Market
Domestic sugar prices surged on lower quota
Domestic sugar prices in the major markets surged as quota was much lower than market expectations. Prices increased by Rs 110-120 per quintal in Uttar Pradesh and prices in Kolhapur by Rs 50-60 per quintal. The monthly quota for August is reported at 22 lakh tons, which is 3.5 lakh tons lower than the same month last year and 2.0 lakh tons lower than previous month. In addition, validity of sugar sales under the monthly quota of July, 2024 has been extended to 15th August, 2024. However, as per the sources, there’s not much sugar left of last month which fuelled the rally in the spot markets. As prices rallied, the food ministry may give additional quota.
Prices of S-grade sugar in Kolhapur traded between Rs 3,600 to 3,650 per quintal, while M-grade sugar in Muzaffarnagar traded in the range of Rs 3,900 to 3,950 per quintal. According to Agrimandi, S grade sugar in the Kolhapur market is expected to trade between Rs 3,550 and Rs 3,670 per quintal over the next two weeks.
Ex-mill Sugar Prices as on July, 27 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3640 |
₹3680 to 3720 |
|
Karnataka |
– |
– |
|
Uttar Pradesh |
|
₹3900 to 3950 |
|
Gujarat |
₹3575 to 3606 |
₹3675 to 3706 |
|
Tamil Nadu |
– |
– |
|
Madhya Pradesh |
₹3670 to 3685 |
₹3745 to 3785 |
|
Punjab |
₹3840 to 3920 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 27 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,158.00 |
|
Kanpur |
M/30 |
₹4,105.50 |
|
Kolhapur |
M/30 |
₹3,895.50 |
|
Kolkata |
M/30 |
₹4,200.00 |
|
Muzaffarnagar |
M/30 |
₹4,105.50 |
|
Ahmedabad |
M/30 |
₹3,990.00 |
|
Banglore |
M/30 |
₹4,021.50 |
|
Chennai |
M/30 |
₹4,147.50 |
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