ChiniMandi, Mumbai: 27th Dec 2024
Domestic Market
Domestic prices continue to trade up.
After a sharp drop, organic sugar prices in major markets rebounded for the second session, rising by Rs 10-20 per quintal. The Food Ministry has allocated a monthly quota of 22.5 lakh tons, which is 0.5 lakh tons less than the same month last year but higher by the same amount as the previous month. The quota is slightly higher than the previous month, which should help keep prices in check.
S-grade sugar in Kolhapur costs Rs 3,350-3,390 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,720-3,780. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,260 and Rs 3,400 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 27 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3360 to 3400 |
₹3440 to 3470 |
|
South Karnataka |
₹3625 |
₹3675 |
|
Uttar Pradesh |
|
₹3760 to 3800 |
|
Gujarat |
Old: ₹3405 to 3501 New: ₹3501 to 3541 |
Old: ₹3490 to 3581 New: ₹3601 to 3641 |
|
Tamil Nadu |
₹3670 to 3800 |
₹3825 |
|
Madhya Pradesh |
₹3560 to 3590 |
₹3630 to 3680 |
|
Punjab |
₹3850 to 3900 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 27 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,000.50 |
|
Kanpur |
M/30 |
₹3,963.75 |
|
Kolhapur |
M/30 |
₹3,654.00 |
|
Kolkata |
M/30 |
₹4,011.00 |
|
Muzaffarnagar |
M/30 |
₹3,958.50 |
|
Ahmedabad |
M/30 |
₹3,801.00 |
|
Bangaluru |
M/30 |
₹3,853.50 |
|
Chennai |
M/30 |
₹3,979.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $487.50 ton, whereas the New York Sugar #11 front month contract is trading at 19.20 c/lb. The corn futures market trades at 430-0 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.505 whereas USD was trading with BRL at 6.1650, Crude WTI traded at $70.16 barrel. Sensex closed 226.50 points up at 78,699.07 whereas Nifty closed 63.20 points higher at 23,813.40
News Round-Up
Maharashtra: Sugar recovery rate crosses 10 per cent in Kolhapur division
Maharashtra: Sugar recovery rate crosses 10 per cent in Kolhapur division
WISMA urges government to withdraw/delete terms of ethanol purchase priority by OMCs
WISMA urges government to withdraw/delete terms of ethanol purchase priority by OMCs
Ethanol boost: Bongaigaon Refinery launches E-20
