ChiniMandi, Mumbai: 1st April 2024
Domestic Market
Domestic sugar were mixed today
Domestic sugar prices in major markets were reported to be mixed, with prices falling in Uttar Pradesh while rising in Maharashtra. However, given the higher monthly prices, they are expected to remain under pressure in the coming days. Furthermore, demand is said to be weak in the major markets, which is likely to weigh on prices.
In Muzaffarnagar, M-grade sugar costs between Rs 3,750 and Rs 3,780 per quintal, while S-grade sugar is expected to cost between Rs 3,420 and Rs 3,460. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,380 and Rs 3,460 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 1 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3410 to 3450 |
₹3490 to 3530 |
|
Karnataka |
₹3625 |
₹3675 |
|
Uttar Pradesh |
|
₹3750 to 3780 |
|
Gujarat |
₹3461 to 3491 |
₹3511 to 3551 |
|
Tamil Nadu |
₹3600 to 3800 |
₹3680 to 3850 |
|
Madhya Pradesh |
₹3600 to 3610 |
₹3650 to 3660 |
|
Punjab |
₹3825 to 3860 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 1 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹3,990.00 |
|
Kanpur |
M/30 |
₹3,942.75 |
|
Kolhapur |
M/30 |
₹3,727.50 |
|
Kolkata |
M/30 |
₹3,969.00 |
|
Muzaffarnagar |
M/30 |
₹3,937.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is not trading today on an occasion of Easter Monday, whereas the New York Sugar #11 front month contract is trading at 22.62 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.393 whereas USD was trading with BRL at 5.0147, Crude futures traded at ₹6916, Crude WTI traded at $82.88 barrel. Sensex closed 363.20 points higher at 74014.55 whereas Nifty ended 135.10 points higher at 22462.00
News Round-Up
Sugar production in Maharashtra crosses more than 107 lakh tonnes; 140 mills end operations
Sugar production in Maharashtra crosses more than 107 lakh tonnes; 140 mills end operations
Industry needs to adopt forward-looking approach to produce sugar as per changing consumer behaviour and other factors
Sensex, Nifty hit new highs
