ChiniMandi, Mumbai: 11th Nov 2024
Domestic Market
Steady to weak sentiment reported in Domestic sugar prices
Sugar prices in Uttar Pradesh have fallen another Rs 10 per quintal, while Maharashtra has maintained a steady sentiment. Crushing has begun in Uttar Pradesh, putting downward pressure on prices. Few mills will begin crushing in Karnataka at the end of the week, and Maharashtra in the third week of the month.
Maharashtra’s state assembly elections are expected to postpone crushing by 20-25 days longer than usual this season. Demand is said to be dull, with buyers going hand-to-mouth once the crushing activity starts.
M-grade sugar in Muzaffarnagar costs Rs 3,820-3,870 per quintal, while S-grade sugar in Kolhapur costs Rs 3,460-3,530. Agrimandi.live predicts that prices for Kolhapur S-grade sugar will rise to Rs 3,400-3,560 per quintal in the coming days.
Ex-mill Sugar Prices as on┬а┬аNov, 11 2024 :┬а
|
State |
S/30┬а [Rates per Quintal]┬а |
M/30 [Rates per Quintal]┬а |
|
Maharashtra |
тВ╣3450 to 3510 |
тВ╣3530 to 3590 |
|
South Karnataka |
тВ╣3610 to 3775 |
тВ╣3670 to 3825 |
|
Uttar Pradesh |
|
тВ╣3820 to 3870 |
|
Gujarat |
тВ╣3561 to 3601 |
тВ╣3621 to 3721 |
|
Tamil Nadu |
тВ╣3800 to 3925 |
тВ╣3925 to 4025 |
|
Madhya Pradesh |
тВ╣3700 to 3720 |
тВ╣3750 to 3820 |
|
Punjab |
тВ╣3950 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on┬а┬аNov, 11 2024 :┬а
|
City┬а |
Grade┬а |
Rate┬а |
|
Delhi |
M/30 |
тВ╣4,095.00 |
|
Kanpur |
M/30 |
тВ╣4,063.50 |
|
Kolhapur |
M/30 |
тВ╣3,769.50 |
|
Kolkata |
M/30 |
тВ╣4,116.00 |
|
Muzaffarnagar |
M/30 |
тВ╣4,058.25 |
|
Ahmedabad |
M/30 |
тВ╣3,927.00 |
|
Banglore |
M/30 |
тВ╣3,979.50 |
|
Chennai |
M/30 |
тВ╣4,084.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $554.40 ton, whereas the New York Sugar #11 front month contract is trading at 21.67 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.381 whereas USD was trading with BRL at 5.7805, Crude futures traded at тВ╣5850, Crude WTI traded at $69.22 barrel. Sensex closed 61.43 points lower at 79424.89 whereas Nifty closed 26.10 points lower at 24122.10
News Round-Up
Philippines: No sugar imports until mid-2025
Gujarat Ambuja Exports Limited gets environmental clearance for new ethanol plant in West Bengal
Gujarat Ambuja Exports Limited gets environmental clearance for new ethanol plant in West Bengal
Single rate for all grain based ethanol: Grain Ethanol Manufacturers Association pitches for pricing reform
