ChiniMandi, Mumbai: 30th July 2024
Domestic Market
Domestic sugar prices were reported to be steady
After a sharp increase, domestic sugar prices in the major markets were reported to be stable. Demand is said to be average at higher price points. Prices have risen by Rs 150-180 per quintal in Uttar Pradesh and Rs 100-120 per quintal in Maharashtra in the last two sessions, owing to lower monthly quotas.
S-grade sugar in Kolhapur was priced between Rs 3,660 and 3,700 per quintal, while M-grade sugar in Muzaffarnagar ranged between Rs 3,990 and 4,040. According to Agrimandi, S grade sugar in the Kolhapur market is expected to trade between Rs 3,600 and Rs 3,750 per quintal over the next two weeks.
Ex-mill Sugar Prices as on July, 30 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3630 to 3660 |
₹3710 to 3740 |
|
Karnataka |
₹3850 |
– |
|
Uttar Pradesh |
|
₹3990 to 4040 |
|
Gujarat |
₹3675 to 3706 |
₹3775 to 3806 |
|
Tamil Nadu |
₹3875 to 3925 |
₹4015 |
|
Madhya Pradesh |
₹3670 to 3685 |
₹3745 to 3785 |
|
Punjab |
₹3840 to 3920 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 30 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,242.00 |
|
Kanpur |
M/30 |
₹4,189.50 |
|
Kolhapur |
M/30 |
₹3,937.50 |
|
Kolkata |
M/30 |
₹4,284.00 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
|
Ahmedabad |
M/30 |
₹4,053.00 |
|
Banglore |
M/30 |
₹4,074.00 |
|
Chennai |
M/30 |
₹4,210.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $537.10 ton, whereas the New York Sugar #11 front month contract is trading at 18.99 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.734 whereas USD was trading with BRL at 5.6152, Crude futures traded at ₹6322, Crude WTI traded at $75.39 barrel. Sensex closed 99.56 points higher at 81455.40 whereas Nifty closed 1.85 points higher at 24837.95
News Round-Up
ISMA estimates gross sugar production at 333 lakh tonnes in 2024-25 season
ISMA estimates gross sugar production at 333 lakh tonnes in 2024-25 season
No plan to mandate blending of diesel with ethanol: Hardeep Singh Puri in Parliament
No plan to mandate blending of diesel with ethanol: Hardeep Singh Puri in Parliament
Strengthening of co-operative sugar mills
