ChiniMandi, Mumbai: 29th Oct 2024
Domestic Market
Domestic sugar prices were mostly stable
After a sharp increase, sugar prices in the major markets of Uttar Pradesh and Maharashtra were reported to be stable. Crushing is started in Uttar Pradesh, as 8-10 mills have started operations, but in Maharashtra and Karnataka, crushing is likely to start from mid-November. Demand is said to be dull, and quota was reported at 22 lakh tons, lower by 1.0 lakh tons compared to the same month the previous year and 3.5 lakh tons lower than last month. As prices were trading lower, the Food Ministry is allocated the less quota for the month of November.
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, 29 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, 29 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 $567.80 ton, whereas the New York Sugar #11 front month contract is trading at 22.17 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.069 whereas USD was trading with BRL at 5.7267, Crude futures traded at ₹5741, Crude WTI traded at $68.13 barrel. Sensex closed 363.99 points higher at 80369.03 whereas Nifty closed 117.85 points higher at 24457.00
News Round-Up
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