ChiniMandi, Mumbai: 10th January 2024
Domestic Market
Domestic sugar prices fell due to subdued demand
Sugar prices in the major markets were reported to be weak after trading stable for 3-4 sessions, with demand reported to be dull, weighing on spot market prices. Prices have fallen by Rs 10-20 per quintal across the major centers. The ongoing crushing season is also weighing on spot market prices and is expected to pressurize in the coming days.
In Muzaffarnagar, M-grade sugar trades between Rs 3,770 and Rs 3,840 per quintal, while in Kolhapur, S-grade sugar ranges between Rs 3,520 and Rs 3,580 per quintal. According to Agrimandi.live, S grade sugar in Kolhapur markets is expected to trade between Rs 3,500 and Rs 3,620 per quintal over the next two weeks.
Ex-mill Sugar Prices as on January, 10 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3510 to 3550 |
₹3590 to 3630 |
|
Karnataka |
₹3680 to 3700 |
₹3740 to 3750 |
|
Uttar Pradesh |
|
₹3760 to 3870 |
|
Gujarat |
Old – ₹3581 |
Old – ₹3615 to 3631 New – ₹3701 to 3731 |
|
Tamil Nadu |
₹3740 to 3875 |
₹3800 to 3900 |
|
Madhya Pradesh |
₹3710 to 3735 |
₹3760 to 3785 |
|
Punjab |
₹3880 to 3901 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on January, 10 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,990.00 |
|
Kolhapur |
M/30 |
₹3,832.50 |
|
Kolkata |
M/30 |
₹4,042.50 |
|
Muzaffarnagar |
M/30 |
₹3,990.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $620.80 ton, whereas the New York Sugar #11 front month contract is trading at 21.71 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.031 whereas USD was trading with BRL at 4.8846, Crude futures traded at ₹6090, Crude WTI traded at $73.28 barrel. Sensex closed 271.50 points higher at 71657.71 whereas Nifty ended 73.85 points higher at 21618.70
News Round-Up
West Bengal: Sugar mill set to reopen after 5 years
FSSAI officials conduct raids at jaggery manufacturing units in Salem and Namakkal districts
FSSAI officials conduct raids at jaggery manufacturing units in Salem and Namakkal districts
Sugar mills in Uttar Pradesh produce 38.16 lakh tonnes of sugar so far
Sugar mills in Uttar Pradesh produce 38.16 lakh tonnes of sugar so far
Vibrant Gujarat Summit: Essar Group to set up green hydrogen project in Jamnagar
Vibrant Gujarat Summit: Essar Group to set up green hydrogen project in Jamnagar
Sensex ends 271 points higher, Nifty above 21,600
