ChiniMandi, Mumbai: 7th Nov 2024
Domestic Market
Domestic sugar prices continue to trade weak
Sugar prices in Uttar Pradesh and Maharashtra’s main markets have fallen by another Rs 10 per quintal. Demand is said to be dull, with buyers going hand-to-mouth as crushing activity starts. Cruising has begun in Uttar Pradesh, with Karnataka expected to follow on November 8th and Maharashtra in the third week of the month. State assembly elections in Maharashtra are expected to postpone the crushing.
M-grade sugar in Muzaffarnagar costs Rs 3,860-3,900 per quintal, while S-grade sugar in Kolhapur costs Rs 3,480-3,550. Agrimandi.live predicts: Kolhapur S-grade sugar prices are expected to rise to Rs 3,460-3,600 per quintal in the coming days.
Ex-mill Sugar Prices as onย ย Nov, 07 2024 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3460 to 3520 |
โน3540 to 3600 |
|
South Karnataka |
โน3640 to 3775 |
โน3660 to 3825 |
|
Uttar Pradesh |
|
โน3860 to 3910 |
|
Gujarat |
โน3581 to 3621 |
โน3641 to 3741 |
|
Tamil Nadu |
โน3760 to 3925 |
โน3925 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, 07 2024 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน4,137.00 |
|
Kanpur |
M/30 |
โน4,105.50 |
|
Kolhapur |
M/30 |
โน3,790.50 |
|
Kolkata |
M/30 |
โน4,158.00 |
|
Muzaffarnagar |
M/30 |
โน4,100.25 |
|
Ahmedabad |
M/30 |
โน3,948.00 |
|
Banglore |
M/30 |
โน4,000.50 |
|
Chennai |
M/30 |
โน4,105.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $565.50 ton, whereas the New York Sugar #11 front month contract is trading at 22.36 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.347 whereas USD was trading with BRL at 5.7062, Crude futures traded at โน5985, Crude WTI traded at $70.94 barrel. Sensex closed 836.34 points lower at 79541.79 whereas Nifty closed 284.70 points lower at 24199.35
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