ChiniMandi, Mumbai: 27th Aug 2024
Domestic Market
Weak sentiment continued in domestic sugar prices
Domestic sugar prices were reported to be lower in the major markets, down Rs 10 per quintal in Muzaffarnagar and Rs 5 per quintal in Kolhapur. According to local sources, demand is still extremely low despite the limited supply, as the monthly quota was lower than expected, resulting in stable prices.
The price range for S-grade sugar in Muzaffarnagar was Rs 3,820-3,880 per quintal, whereas in Kolhapur it was Rs 3,600-3,650. Agrimandi expects S-grade sugar prices in the Kolhapur market to range between Rs 3,600 and Rs 3,720 per quintal in the next two weeks.
Ex-mill Sugar Prices as on Aug, 27 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3565 to 3615 |
₹3645 to 3695 |
|
Karnataka |
₹3720 to 3775 |
₹3750 to 3825 |
|
Uttar Pradesh |
|
₹3830 to 3890 |
|
Gujarat |
₹3601 to 3631 |
₹3685 to 3731 |
|
Tamil Nadu |
₹3800 to 3910 |
₹3925 |
|
Madhya Pradesh |
₹3730 to 3770 |
₹3820 to 3860 |
|
Punjab |
₹4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Aug, 27 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,021.50 |
|
Kolhapur |
M/30 |
₹3,879.75 |
|
Kolkata |
M/30 |
₹4,131.75 |
|
Muzaffarnagar |
M/30 |
₹4,021.50 |
|
Ahmedabad |
M/30 |
₹3,995.25 |
|
Banglore |
M/30 |
₹4,026.75 |
|
Chennai |
M/30 |
₹4,152.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $538.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.07 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.916 whereas USD was trading with BRL at 5.4880, Crude futures traded at ₹6475, Crude WTI traded at $77.03 barrel. Sensex closed 13.65 points higher at 81711.76 whereas Nifty closed 7.15 points higher at 25017.75
