ChiniMandi, Mumbai: 29th Nov 2024
Domestic Market
Domestic sugar prices remained stable
After a drastic fall, domestic sugar prices in the major markets were reported to be stable for the second session. Demand is said to be dull as buyers remain as crushing activity started across the states. Almost all the mills are operating in Karnataka and Uttar Pradesh and around 100+ started crushing activity in Maharashtra, which should keep prices under check.
S-grade sugar in Kolhapur costs Rs 3,400-3,440 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,700-3,740. According to Agrimandi.live, Kolhapur S-grade sugar will cost between Rs 3,360 and Rs 3,480 per quintal in the near future.
Ex-mill Sugar Prices as onย ย Nov, 29 2024 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3370 to 3420 |
โน3450 to 3500 |
|
South Karnataka |
โน3530 to 3610 |
โน3580 to 3660 |
|
Uttar Pradesh |
|
โน3700 to 3740 |
|
Gujarat |
โน3480 to 3530 |
โน3510 to 3641 |
|
Tamil Nadu |
โน3675 to 3825 |
โน3735 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, 29 2024 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน3,948.00 |
|
Kanpur |
M/30 |
โน3,906.00 |
|
Kolhapur |
M/30 |
โน3,690.75 |
|
Kolkata |
M/30 |
โน3,958.50 |
|
Muzaffarnagar |
M/30 |
โน3,906.00 |
|
Ahmedabad |
M/30 |
โน3,832.50 |
|
Banglore |
M/30 |
โน3,885.00 |
|
Chennai |
M/30 |
โน3,990.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $526.40 ton, whereas the New York Sugar #11 front month contract is trading at 21.24c/lb. The corn futures market trades at 415-6 and the ethanol Chicago trades at 1.62000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.587 whereas USD was trading with BRL at 5.9865, Crude WTI traded at $68.96 barrel. Sensex closed 759.05 points up at 79,802.79 whereas Nifty closed 216.95 points higher at 24,131.10
News Round-Up
Industryโs most premium and prestigious conference, Sugar โ Ethanol Bioenergy India Conference 2025, to take place on January 30-31, 2024, in New Delhi
Government deducts sugar quota of around 132 mills for violating stockholding limits
Government deducts sugar quota of around 132 mills for violating stockholding limits
