ChiniMandi, Mumbai: 31st Dec 2024
Domestic Market
Steady sentiment witnessed in domestic prices
Sugar prices in major markets were reported to be stable on a dull trading activity for the second session. Demand is said to be weak as crushing is going on smoothly. Trade was reported dull due to the new year and amavasya.
As per the recent update, around 190 miils are operational in Maharashtra and produced 2.92 MMT with an average recovery of 8.6% compared to 8.9% of the last year. Delay in start of crushing this season is keeping recovery lower in the state.
S-grade sugar in Kolhapur traded in the range of Rs 3,370–3,400 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,780-3,840. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,260 and Rs 3,400 per quintal in the near future.
Ex-mill Sugar Prices as on Dec, 31 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3370 to 3410 |
₹3450 to 3480 |
|
South Karnataka |
₹3550 to 3625 |
₹3675 |
|
Uttar Pradesh |
|
₹3780 to 3840 |
|
Gujarat |
Old: ₹3405 to 3501 New: ₹3501 to 3541 |
Old: ₹3490 to 3581 New: ₹3601 to 3641 |
|
Tamil Nadu |
₹3675 to 3840 |
₹3735 to 3825 |
|
Madhya Pradesh |
₹3560 to 3590 |
₹3630 to 3680 |
|
Punjab |
₹3850 to 3900 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Dec, 31 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹4,000.50 |
|
Kolhapur |
M/30 |
₹3,664.50 |
|
Kolkata |
M/30 |
₹4,042.50 |
|
Muzaffarnagar |
M/30 |
₹3,995.25 |
|
Ahmedabad |
M/30 |
₹3,822.00 |
|
Bangaluru |
M/30 |
₹3,874.50 |
|
Chennai |
M/30 |
₹4,000.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $488.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.10 c/lb. The corn futures market trades at 430-0 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.609 whereas USD was trading with BRL at 6.1917, Crude WTI traded at $71.53 barrel. Sensex closed 109.12 points down at 78,139.01 whereas Nifty closed 13.25 points higher at 23,658.15
News Round-Up
State-wise monthly sugar quota for sale in January 2025
Maharashtra: 190 mills operational in ongoing season; sugar production reaches 29.15 lakh tonnes
Maharashtra: 190 mills operational in ongoing season; sugar production reaches 29.15 lakh tonnes
Maize purchase at MSP for ethanol plant begins in Kondagaon; commissioning process expected to start in January
