ChiniMandi, Mumbai: 28th June 2024
Domestic Market
Sugar prices ended lower
After a trading session, domestic sugar prices were reported to be down by Rs 10 per quintal across markets. As the government denied the possibility of exports, prices are weighed down. Furthermore, rainfall activity was reported to be good, which is weighing on sugar prices as crop conditions improve in Maharashtra and South India.
M-grade sugar in Muzaffarnagar is priced between Rs 3,835 and Rs 3,855 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,570 and Rs 3,610. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall between Rs 3,540 and Rs 3,660 per quintal in the next two weeks.
Ex-mill Sugar Prices as on June, 28 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3610 |
₹3660 to 3690 |
|
Karnataka |
₹3760 to 3770 |
– |
|
Uttar Pradesh |
|
₹3835 to 3855 |
|
Gujarat |
₹3585 to 3621 |
₹3685 to 3711 |
|
Tamil Nadu |
₹3810 to 3850 |
– |
|
Madhya Pradesh |
₹3720 to 3780 |
₹3750 to 3800 |
|
Punjab |
₹3975 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on June, 28 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,079.25 |
|
Kanpur |
M/30 |
₹4,037.25 |
|
Kolhapur |
M/30 |
₹3,853.50 |
|
Kolkata |
M/30 |
₹4,100.25 |
|
Muzaffarnagar |
M/30 |
₹4,037.25 |
|
Ahmedabad |
M/30 |
₹3,969.00 |
|
Banglore |
M/30 |
₹3,963.75 |
|
Chennai |
M/30 |
₹4,084.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $583.10 ton, whereas the New York Sugar #11 front month contract is trading at 20.17 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.364 whereas USD was trading with BRL at 5.5053, Crude futures traded at ₹6848, Crude WTI traded at $82.11 barrel. Sensex closed 210.45 points lower at 79032.73 whereas Nifty closed 33.90 points lower at 24010.60
News Round-Up
Government deducts sugar quota of 106 mills for selling excess sugar
