ChiniMandi, Mumbai: 9th Dec 2024
Domestic Market
Domestic sugar prices were stable to higher
After a drastic fall, domestic sugar prices in major markets were reported to be stable to higher. Prices in Uttar Pradesh were recovered by Rs 10 per quintal while other centres witnessed a steady sentiment. Prices have dropped by Rs 200-250 per quintal from their recent peak, primarily due to a lack of demand due to ongoing crushing activity. Demand remains weak despite the price fall, with buyers remaining need-based since the start of crushing activity across the states. Almost all mills are operational in Karnataka and Uttar Pradesh, and over 150 have begun crushing operations in Maharashtra, which should keep prices in check. Due to limited cane availability in Maharashtra, it is likely that fewer mills will operate this season.
S-grade sugar in Kolhapur costs Rs 3,340-3,390 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,670-3,710. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will range from Rs 3,320 to Rs 3,450 per quintal in the near future.
At the time of writing this update London White Sugar #5 front month contract is trading at $526.80 ton, whereas the New York Sugar #11 front month contract is trading at 21.83c/lb. The corn futures market trades at 432-0 and the ethanol Chicago trades at 1.62655s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.894 whereas USD was trading with BRL at 6.0287, Crude WTI traded at $68.11 barrel. Sensex closed 200.66 points down at 81,508.46 whereas Nifty closed 58.80 points lower at 24,619.00
Ex-mill Sugar Prices as onย Dec, 09 2024 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3330 to 3370 |
โน3420 to 3450 |
|
South Karnataka |
โน3450 to 3510 |
โน3530 to 3550 |
|
Uttar Pradesh |
|
โน3660 to 3710 |
|
Gujarat |
โน3431 to 3485 |
โน3531 to 3601 |
|
Tamil Nadu |
โน3575 to 3700 |
โน3635 to 3775 |
|
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 Dec, 09 2024 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน3,916.50 |
|
Kanpur |
M/30 |
โน3,874.50 |
|
Kolhapur |
M/30 |
โน3,633.00 |
|
Kolkata |
M/30 |
โน3,927.00 |
|
Muzaffarnagar |
M/30 |
โน3,874.50 |
|
Ahmedabad |
M/30 |
โน3,769.50 |
|
Banglore |
M/30 |
โน3,822.00 |
|
Chennai |
M/30 |
โน3,937.50 |
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