ChiniMandi, Mumbai: 31st Oct 2024
Domestic Market
Domestic sugar prices stayed stable.
After a sharp increase, sugar prices in Uttar Pradesh and Maharashtra remained stable for the third session. Eight to ten mills in Uttar Pradesh have started crushing, while Maharashtra and Karnataka may start in mid-November.
Trading activity was reported to be slow due to the holiday season, with only a few trades reported today. Demand is said to be dull because most buyers have already covered for the festive demand.
M-grade sugar in Muzaffarnagar costs Rs 3,870-Rs 3,920 per quintal, whereas S-grade sugar in Kolhapur costs Rs 3,510-Rs 3,580. Agrimandi.live expects Kolhapur S-grade sugar prices to rise to Rs 3,500-Rs 3,620 per quintal soon.
Ex-mill Sugar Prices as on Oct, 31 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3490 to 3550 |
₹3570 to 3630 |
|
South Karnataka |
Holiday |
Holiday |
|
Uttar Pradesh |
|
₹3870 to 3920 |
|
Gujarat |
Holiday |
Holiday |
|
Tamil Nadu |
Holiday |
Holiday |
|
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, 31 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 $577.70 ton, whereas the New York Sugar #11 front month contract is trading at 22.63 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.077 whereas USD was trading with BRL at 5.7648, Crude futures traded at ₹5830, Crude WTI traded at $69.19 barrel. Sensex closed 553.12 points lower at 79389.06 whereas Nifty closed 135.50 points lower at 24205.355
News Round-Up
From data to harvest: Innovative project to use AI, machine learning and IoT to address key challenges in sugarcane farming
Government ready to avoid shortage of sugar: Bangladesh’s Finance Minister
Government ready to avoid shortage of sugar: Bangladesh’s Finance Minister
India and China drive shift from G7 to BRICS in global trade dynamics: EY report
India and China drive shift from G7 to BRICS in global trade dynamics: EY report
