ChiniMandi, Mumbai: 31st May 2024
Domestic Market
Domestic sugar prices reported to be stable
After a weak session yesterday due to low demand, domestic sugar prices in major markets are quoted stable. Demand is said to be subdued at current price levels, with higher quotas than the previous year keeping prices under control.
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 in the next two weeks to between Rs 3,540 and Rs 3,660 per quintal.
Ex-mill Sugar Prices as on May, 31 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3605 to 3630 |
₹3685 to 3710 |
|
Karnataka |
₹3800 to 3900 |
– |
|
Uttar Pradesh |
|
₹3890 to 3900 |
|
Gujarat |
₹3651 to 3671 |
₹3751 to 3771 |
|
Tamil Nadu |
₹3825 to 3950 |
₹3910 |
|
Madhya Pradesh |
₹3750 to 3800 |
₹3800 to 3820 |
|
Punjab |
₹3990 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 31 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 $540.40 ton, whereas the New York Sugar #11 front month contract is trading at 18.15 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.438 whereas USD was trading with BRL at 5.2037, Crude futures traded at ₹6517, Crude WTI traded at $77.97 barrel. Sensex closed 75.71 points higher at 73961.31 whereas Nifty closed 42.05 points higher at 22530.70
News Round-Up
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