ChiniMandi, Mumbai: 3rd April 2024
Domestic Market
Domestic sugar were reported stable
Domestic sugar prices in major markets were reported to be stable after a mixed session yesterday. However, with a higher monthly quota, they are expected to face continued pressure in the coming days. Furthermore, demand is expected to be weak in the major markets, putting pressure on prices.
In Muzaffarnagar, M-grade sugar costs between Rs 3,770 and Rs 3,800 per quintal, while S-grade sugar is expected to cost between Rs 3,420 and Rs 3,450. Agrimandi anticipates that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,380 and Rs 3,460 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 3 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3440 to 3470 |
₹3520 to 3550 |
|
Karnataka |
₹3620 to 3630 |
₹3675 |
|
Uttar Pradesh |
|
₹3760 to 3790 |
|
Gujarat |
₹3471 to 3501 |
₹3521 to 3561 |
|
Tamil Nadu |
₹3600 to 3750 |
– |
|
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, 3 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,005.75 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,738.00 |
|
Kolkata |
M/30 |
₹3,979.50 |
|
Muzaffarnagar |
M/30 |
₹3,953.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $654.10 ton, whereas the New York Sugar #11 front month contract is trading at 22.50 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.523 whereas USD was trading with BRL at 5.0739, Crude futures traded at ₹7156, Crude WTI traded at $85.75 barrel. Sensex closed 27.09 points lower at 73876.82 whereas Nifty ended 18.65 points lower at 22434.65
News Round-Up
World Bank projects India’s growth to reach 7.5 per cent in FY 23-24
World Bank projects India’s growth to reach 7.5 per cent in FY 23-24
Season 2023-24: 151 sugar mills end sugarcane crushing operations
Season 2023-24: 151 sugar mills end sugarcane crushing operations
Pakistan Sugar Mills Association requests govt to create ‘permanent’ window of sugar export
Pakistan Sugar Mills Association requests govt to create ‘permanent’ window of sugar export
