ChiniMandi, Mumbai: 26th Nov 2024
Domestic Market
Domestic sugar prices continued to show signs of weakness.
Domestic sugar prices in the major markets are showing signs of weakness. Trading activity was reported to be slow, and demand was said to be low, with buyers preferring low rates.
S-grade sugar in Kolhapur costs Rs 3,370-3,450 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,700-3,750. According to Agrimandi.live, Kolhapur S-grade sugar will cost between Rs 3,350 and Rs 3,450 per quintal in the near future.
In an announcement on November 26, the Food Ministry allocated a monthly sugar quota of 22 lakh metric tonnes (LMT) for December 2024, which is lower than the quantity allocated in December 2023 (24 LMT). According to market experts, the government is taking steps to ensure stable sugar prices, but due to the new sugar season, sugar prices are expected to trade on the lower side.
Ex-mill Sugar Prices as onย ย Nov, 26 2024 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3400 to 3460 |
โน3500 to 3540 |
|
South Karnataka |
โน3530 to 3610 |
โน3620 to 3650 |
|
Uttar Pradesh |
|
โน3700 to 3750 |
|
Gujarat |
โน3500 to 3550 |
โน3530 to 3661 |
|
Tamil Nadu |
โน3730 to 3825 |
โน3875 to 3925 |
|
Madhya Pradesh |
โน3700 to 3720 |
โน3750 to 3820 |
|
Punjab |
โน3950 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as onย ย Nov, 26 2024 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน3,969.00 |
|
Kanpur |
M/30 |
โน3,927.00 |
|
Kolhapur |
M/30 |
โน3,696.00 |
|
Kolkata |
M/30 |
โน3,979.50 |
|
Muzaffarnagar |
M/30 |
โน3,927.00 |
|
Ahmedabad |
M/30 |
โน3,843.00 |
|
Banglore |
M/30 |
โน3,895.50 |
|
Chennai |
M/30 |
โน4,000.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $552.80 ton, whereas the New York Sugar #11 front month contract is trading at 21.44 c/lb. The corn futures market trades at 423-2 and the ethanol Chicago trades at 1.62000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.295 whereas USD was trading with BRL at 5.7953, Crude WTI traded at $69.19 barrel. Sensex closed 105.79 points down at 80,004.06 whereas Nifty closed 27.40 points lower at 24,194.50.
