ChiniMandi, Mumbai: 6th Nov 2024
Domestic Market
Domestic sugar prices traded weakly.
Sugar prices in Uttar Pradesh and Maharashtra’s main markets have fallen by Rs 10 per quintal. Demand is said to be dull, with buyers going hand-to-mouth as crushing activity begins. Cruising has begun in Uttar Pradesh, and it is expected to begin in Karnataka on November 8th and in Maharashtra during the third week of the month. State assembly elections in Maharashtra are expected to postpone the crushing.
M-grade sugar in Muzaffarnagar costs Rs. 3,870-3,920 per quintal, whereas S-grade sugar in Kolhapur costs Rs 3,500-3,570. Agrimandi.live predicts Kolhapur S-grade sugar prices will rise to Rs 3,460-3,600 per quintal in the coming days.
Ex-mill Sugar Prices as onย ย Nov, 06 2024 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3470 to 3520 |
โน3550 to 3600 |
|
South Karnataka |
โน3640 to 3775 |
โน3660 to 3825 |
|
Uttar Pradesh |
|
โน3870 to 3920 |
|
Gujarat |
โน3581 to 3621 |
โน3641 to 3741 |
|
Tamil Nadu |
โน3760 to 3925 |
โน3820 to 4025 |
|
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, 06 2024 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน4,147.50 |
|
Kanpur |
M/30 |
โน4,116.00 |
|
Kolhapur |
M/30 |
โน3,801.00 |
|
Kolkata |
M/30 |
โน4,168.50 |
|
Muzaffarnagar |
M/30 |
โน4,110.75 |
|
Ahmedabad |
M/30 |
โน3,958.50 |
|
Banglore |
M/30 |
โน4,011.00 |
|
Chennai |
M/30 |
โน4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $552.40 ton, whereas the New York Sugar #11 front month contract is trading at 21.65 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.336 whereas USD was trading with BRL at 5.8184, Crude futures traded at โน5963, Crude WTI traded at $70.64 barrel. Sensex closed 901.50 points higher at 80378.13 whereas Nifty closed 270.75 points higher at 24484.05
News Round-Up
Uttam Sugar Mills commissions increased cane crushing capacity at Khaikheri Unit
Uttam Sugar Mills commissions increased cane crushing capacity at Khaikheri Unit
Cabinet approves infusion of equity of Rs.10,700 crore in Food Corporation of India by way of conversion of Ways and Means Advance to equity in 2024-25
Sugar industry heading toward critical financial challenge; urgent government support needed: NFCSF
Sugar industry heading toward critical financial challenge; urgent government support needed: NFCSF
