ChiniMandi, Mumbai: 30th May 2024
Domestic Market
Domestic sugar prices reported to be stable to weak
Domestic sugar prices in major markets are reported to be stable to weak, after remaining stable the day before. Demand is said to be good at current levels, but higher quotas than the previous year keep prices stable. Prices in Muzaffarnagar fell by Rs 10 per quintal, while they were reported to be stable in Kolhapur.
In Muzaffarnagar, M-grade sugar costs between Rs 3,890 and Rs 3,910 per quintal, while S-grade sugar costs between Rs 3,590 and Rs 3,630 per quintal in Kolhapur. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall within the next two weeks to between Rs 3,540 and Rs 3,660 per quintal.
Ex-mill Sugar Prices as on May, 30 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3630 |
₹3680 to 3710 |
|
Karnataka |
₹3800 to 3900 |
– |
|
Uttar Pradesh |
|
₹3890 to 3900 |
|
Gujarat |
₹3641 to 3661 |
₹3741 to 3761 |
|
Tamil Nadu |
₹3825 to 3950 |
₹3910 |
|
Madhya Pradesh |
₹3750 to 3800 |
₹3790 to 3840 |
|
Punjab |
₹4000 to 4080 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 30 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,137.00 |
|
Kanpur |
M/30 |
₹4,095.00 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,158.00 |
|
Muzaffarnagar |
M/30 |
₹4,089.75 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $539.90 ton, whereas the New York Sugar #11 front month contract is trading at 18.23 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.288 whereas USD was trading with BRL at 5.2038, Crude futures traded at ₹6576, Crude WTI traded at $78.88 barrel. Sensex closed 617.30 points lower at 73885.60 whereas Nifty closed 216.05 points lower at 22704.70
News Round-Up
Government deducts sugar quota of 63 mills for selling excess sugar
Government deducts sugar quota of 63 mills for selling excess sugar
State-wise monthly sugar quota for sale in June 2024
Pakistan delays decision on sugar exports
