ChiniMandi, Mumbai: 15th February 2024
Domestic Market
Domestic Sugar prices remained stable
Domestic sugar prices were reported to be stable in major markets after rising for two sessions in Uttar Pradesh. According to reports, prices in Uttar Pradesh are rising due to the lower availability of monthly quotas. Demand is said to be strong, and extended crushing seasons in Maharashtra are keeping prices under control.
According to reports, the price of S-grade sugar in Kolhapur ranged between Rs 3,430 and Rs 3,480 per quintal, while M-grade sugar in Muzaffarnagar cost between Rs 3,750 and Rs 3,810. According to Agrimandi, the cost of S grade sugar in the Kolhapur market is expected to range between Rs 3,400 and Rs 3,550 per quintal over the next two weeks. However, prices in Solapur were reported to range between Rs 3,350 and Rs 3,410 per quintal.
Ex-mill Sugar Prices as on February, 15 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3405 to 3420 |
₹3480 to 3500 |
|
Karnataka |
₹3580 to 3600 |
₹3630 |
|
Uttar Pradesh |
|
₹3750 to 3800 |
|
Gujarat |
₹3531 to 3550 |
₹3601 to 3641 |
|
Tamil Nadu |
₹3600 to 3900 |
₹3660 to 3950 |
|
Madhya Pradesh |
₹3710 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3850 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on February, 15 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,016.25 |
|
Kanpur |
M/30 |
₹3,969.00 |
|
Kolhapur |
M/30 |
₹3759.00 |
|
Kolkata |
M/30 |
₹4,005.75 |
|
Muzaffarnagar |
M/30 |
₹3,958.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $634.40 ton, whereas the New York Sugar #11 front month contract is trading at 23.06 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.038 whereas USD was trading with BRL at 4.9621, Crude futures traded at ₹6333, Crude WTI traded at $76.28 barrel. Sensex closed 227.55 points higher at 72050.38 whereas Nifty ended 70.70 points higher at 21910.75
News Round-Up
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