Domestic sugar prices reported stable
Domestic sugar prices in major markets were reported to have stabilized after rising for two sessions. Demand is said to be very good, and the closure of mills is boosting sentiment in the spot markets.
In Muzaffarnagar, M-grade sugar costs between Rs 3,780 and Rs 3,810 per quintal, while S-grade sugar is expected to cost between Rs 3,440 and Rs 3,480. Agrimandi anticipates that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,440 and Rs 3,500 per quintal within the next two weeks.
Ex-mill Sugar Prices as on April, 11 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3500 |
₹3550 to 3650 |
|
Karnataka |
₹3700 |
– |
|
Uttar Pradesh |
|
₹3780 to 3810 |
|
Gujarat |
₹3501 to 3531 |
₹3551 to 3591 |
|
Tamil Nadu |
₹3725 to 3850 |
₹3790 |
|
Madhya Pradesh |
₹3600 to 3610 |
₹3650 to 3660 |
|
Punjab |
₹3825 to 3860 |
|
|
(All the above rates are excluding GST) |
||
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $628.60 ton, whereas the New York Sugar #11 front month contract is trading at 21.09 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.318 whereas USD was trading with BRL at 5.0812, Crude futures traded at ₹7130, Crude WTI traded at $85.58 barrel. Indian stock exchanges are shut on Thursday for Eid, with normal trading activities resuming Friday.
