ChiniMandi, Mumbai: 30th Oct 2024
Domestic Market
Domestic sugar prices remained stable.
After a sharp rise, sugar prices in Uttar Pradesh and Maharashtra were stable for the second session. Eight to ten mills in Uttar Pradesh have begun crushing, but Maharashtra and Karnataka may start in mid-November.
Demand is said to be dull, and the quota was 22 lakh tons, down 1.0 lakh tons from last year and 3.5 lakh tons from last month. The Food Ministry issued less November quotas due to lower prices.
M-grade sugar in Muzaffarnagar costs Rs 3,870–Rs 3,920 per quintal, while S-grade sugar in Kolhapur costs Rs 3,510–Rs 3,580. Agrimandi.live expects Kolhapur S-grade sugar prices to reach Rs 3,500–Rs 3,620 per quintal soon.
Ex-mill Sugar Prices as on Oct, 30 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3490 to 3550 |
₹3570 to 3630 |
|
South Karnataka |
₹3660 to 3775 |
₹3660 to 3825 |
|
Uttar Pradesh |
|
₹3870 to 3920 |
|
Gujarat |
₹3591 to 3641 |
₹3645 to 3765 |
|
Tamil Nadu |
₹3780 to 3925 |
₹3925 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, 30 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 $565.20 ton, whereas the New York Sugar #11 front month contract is trading at 22.02 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.091 whereas USD was trading with BRL at 5.7683, Crude futures traded at ₹5731, Crude WTI traded at $68.03 barrel. Sensex closed 426.85 points lower at 79942.18 whereas Nifty closed 126.00 points lower at 24340.85
News Round-Up
State-wise monthly sugar quota for sale in November 2024
Monthly Sugar Market Analysis: Sentiment shifts toward more supportive outlook
Monthly Sugar Market Analysis: Sentiment shifts toward more supportive outlook
KN Agri Resources Ltd expands strategically by acquiring majority stake in a sugar and ethanol Unit
KN Agri Resources Ltd expands strategically by acquiring majority stake in a sugar and ethanol Unit
