ChiniMandi, Mumbai: 09th Sep 2024
Domestic Market
Domestic sugar prices show a steady to weak sentiment.
After remaining stable for 2-3 sessions, domestic sugar prices resumed their downward trend due to weak demand. Prices in Uttar Pradesh were reported to be Rs 20 lower per quintal, while Kolhapur was said to be stable. Although prices have been falling for the past month, buyers are hesitant to buy because crushing is expected to begin within the next month or two.
M-grade sugar is priced between Rs 3,760 and Rs 3,800 per quintal in Muzaffarnagar, while S-grade is priced between Rs 3,585 and Rs 3,635 in Kolhapur. Agrimandi forecasts that S-grade sugar prices in Kolhapur will fall between Rs 3,530 and Rs 3,660 per quintal in the coming days.
Ex-mill Sugar Prices as on┬а┬аSep, 09 2024 :┬а
|
State |
S/30┬а [Rates per Quintal]┬а |
M/30 [Rates per Quintal]┬а |
|
Maharashtra |
тВ╣3580 to 3600 |
тВ╣3660 to 3680 |
|
Karnataka |
тВ╣3720 to 3800 |
тВ╣3750 to 3850 |
|
Uttar Pradesh |
|
тВ╣3760 to 3800 |
|
Gujarat |
тВ╣3600 to 3630 |
тВ╣3680 to 3730 |
|
Tamil Nadu |
тВ╣3825 to 4000 |
тВ╣3950 to 4100 |
|
Madhya Pradesh |
тВ╣3730 to 3770 |
тВ╣3975 |
|
Punjab |
тВ╣4000 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on┬а┬аSep, 09 2024 :┬а
|
City┬а |
Grade┬а |
Rate┬а |
|
Delhi |
M/30 |
тВ╣4,011.00 |
|
Kanpur |
M/30 |
тВ╣3,958.50 |
|
Kolhapur |
M/30 |
тВ╣3,864.00 |
|
Kolkata |
M/30 |
тВ╣4,074.000 |
|
Muzaffarnagar |
M/30 |
тВ╣3,958.50 |
|
Ahmedabad |
M/30 |
тВ╣3,974.25 |
|
Banglore |
M/30 |
тВ╣4,011.00 |
|
Chennai |
M/30 |
тВ╣4,137.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $530.60 ton, whereas the New York Sugar #11 front month contract is trading at 18.83 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.958 whereas USD was trading with BRL at 5.5992, Crude futures traded at тВ╣5738, Crude WTI traded at $68.25 barrel. Sensex closed 375.61 points higher at 81559.54 whereas Nifty closed 84.25 points higher at 24936.40
News Round-Up
Ethanol production: Last year, corn rate was тВ╣1,200 per quintal; today it is тВ╣2,800 per quintal, says Nitin Gadkari
BrazilтАЩs LIDE opens office in Mumbai; eyes boosting trade with India
