ChiniMandi, Mumbai: 27th Nov 2024
Domestic Market
Domestic sugar prices continue to slump
Domestic sugar prices in the major markets continued to slump as crushing started across the growing states despite the lower monthly quota release for the month of December. Prices have fallen by Rs 5-20 per quintal, with a fall witnessed by Rs 5 per quintal in Maharashtra and by Rs 20 per quintal in Uttar Pradesh.
The Food Ministry allocated 22.0 lakh tons of sugar for the month of December, lower by 2.0 lakh tons compared to the same month previous season and similar to the previous month. As crushing is going on and no update on sugar MSP, which is keeping prices in the downtrend from the last fortnight and expected to continue to remain lower.
S-grade sugar in Kolhapur costs Rs 3,400-3,440 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,700-3,740. According to Agrimandi.live, Kolhapur S-grade sugar will cost between Rs 3,360 and Rs 3,480 per quintal in the near future.
Ex-mill Sugar Prices as on Nov, 27 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3400 to 3460 |
₹3500 to 3540 |
|
South Karnataka |
₹3530 to 3610 |
₹3580 to 3660 |
|
Uttar Pradesh |
|
₹3700 to 3740 |
|
Gujarat |
₹3500 to 3550 |
₹3530 to 3661 |
|
Tamil Nadu |
₹3685 to 3825 |
₹3745 to 3925 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Nov, 27 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,948.00 |
|
Kanpur |
M/30 |
₹3,906.00 |
|
Kolhapur |
M/30 |
₹3,690.75 |
|
Kolkata |
M/30 |
₹3,958.50 |
|
Muzaffarnagar |
M/30 |
₹3,906.00 |
|
Ahmedabad |
M/30 |
₹3,832.50 |
|
Banglore |
M/30 |
₹3,885.00 |
|
Chennai |
M/30 |
₹3,990.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $563.00 ton, whereas the New York Sugar #11 front month contract is trading at 21.77c/lb. The corn futures market trades at 420-6 and the ethanol Chicago trades at 1.62000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.400 whereas USD was trading with BRL at 5.8151, Crude WTI traded at $69.14 barrel. Sensex closed 230.02 points up at 80,234.08 whereas Nifty closed 80.40 points upper at 24,274.90.
