ChiniMandi, Mumbai: 28th Oct 2024
Domestic Market
Domestic sugar prices were stable to higher
Domestic sugar prices increased by Rs 60-70 per quintal higher in the major markets of Uttar Pradesh. Prices have recovered after falling Rs 130-150 per quintal from the recent high. Demand was reported to be high after a recent price fall from Saturday. Moreover, the delay in starting crushing is also supporting the prices.
In an announcement on October 28, the Food Ministry allocated a monthly sugar quota of 22 lakh metric tonnes (LMT) for November 2024, which is lower than the quantity allocated in November 2023. This quota will be effective from November 1, 2024.
The price of M-grade sugar in Muzaffarnagar ranges from Rs 3,870 to Rs 3,920 per quintal, whereas S-grade sugar in Kolhapur is priced between Rs 3,510 and Rs 3,580. Agrimandi.live anticipates that S-grade sugar prices in Kolhapur will range from Rs 3,500 to Rs 3,620 per quintal in the near future.
Ex-mill Sugar Prices as on Oct, 28 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3490 to 3550 |
₹3570 to 3630 |
|
South Karnataka |
₹3610 to 3775 |
₹3650 to 3825 |
|
Uttar Pradesh |
|
₹3870 to 3920 |
|
Gujarat |
₹3591 to 3641 |
₹3645 to 3765 |
|
Tamil Nadu |
₹3760 to 3925 |
₹3820 to 4025 |
|
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 Oct, 28 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,147.50 |
|
Kanpur |
M/30 |
₹4,116.00 |
|
Kolhapur |
M/30 |
₹3,822.00 |
|
Kolkata |
M/30 |
₹4,179.00 |
|
Muzaffarnagar |
M/30 |
₹4,110.75 |
|
Ahmedabad |
M/30 |
₹3,979.50 |
|
Banglore |
M/30 |
₹4,021.50 |
|
Chennai |
M/30 |
₹4,126.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $557.80 ton, whereas the New York Sugar #11 front month contract is trading at 21.84 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.078 whereas USD was trading with BRL at 5.7111, Crude futures traded at ₹5682, Crude WTI traded at $67.33 barrel. Sensex closed 602.75 points higher at 80005.04 whereas Nifty closed 158.35 points higher at 24339.15
News Round-Up
Government fixes 22 LMT monthly sugar quota for domestic sale in November 2024
Government fixes 22 LMT monthly sugar quota for domestic sale in November 2024
20 per cent mandatory jute packaging: Strict action will be taken against non-compliant sugar mills
20 per cent mandatory jute packaging: Strict action will be taken against non-compliant sugar mills
Shree Renuka Sugars’ Anamika Sugar Mills approves Rs. 183.8 crore capex investment for crushing capacity expansion and power plant
