ChiniMandi, Mumbai: 29th Nov 2024
Domestic Market
Domestic sugar prices remained stable
After a drastic fall, domestic sugar prices in the major markets were reported to be stable for the second session. Demand is said to be dull as buyers remain as crushing activity started across the states. Almost all the mills are operating in Karnataka and Uttar Pradesh and around 100+ started crushing activity in Maharashtra, which should keep prices under check.
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, 29 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3370 to 3420 |
₹3450 to 3500 |
|
South Karnataka |
₹3530 to 3610 |
₹3580 to 3660 |
|
Uttar Pradesh |
|
₹3700 to 3740 |
|
Gujarat |
₹3480 to 3530 |
₹3510 to 3641 |
|
Tamil Nadu |
₹3675 to 3825 |
₹3735 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, 29 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 $526.40 ton, whereas the New York Sugar #11 front month contract is trading at 21.24c/lb. The corn futures market trades at 415-6 and the ethanol Chicago trades at 1.62000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.587 whereas USD was trading with BRL at 5.9865, Crude WTI traded at $68.96 barrel. Sensex closed 759.05 points up at 79,802.79 whereas Nifty closed 216.95 points higher at 24,131.10
News Round-Up
Industry’s most premium and prestigious conference, Sugar – Ethanol Bioenergy India Conference 2025, to take place on January 30-31, 2024, in New Delhi
Government deducts sugar quota of around 132 mills for violating stockholding limits
Government deducts sugar quota of around 132 mills for violating stockholding limits
