ChiniMandi, Mumbai: 15th July 2024
Domestic Market
Firm sentiment witnessed in Domestic sugar prices
After a sharp drop, domestic prices in Uttar Pradesh rose by Rs 5-15 per quintal in the second session due to strong buying. In Uttar Pradesh, demand was reported to be average and is yet to pick up, while Maharashtra saw good buying. Lesser selling pressure from millers are supporting the prices despite the average demand. The start of wedding season in North India is likely to boost demand in the coming days.
Grade sugar prices in Kolhapur range between Rs 3,535 and 3,560, while M-grade sugar in Muzaffarnagar trades between Rs 3,760 and 3,780.
According to Agrimandi, S grade sugar in the Kolhapur market is expected to trade between Rs 3,500 and Rs 3,600 per quintal in the coming two weeks.
Ex-mill Sugar Prices as on┬а┬аJuly, 15 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
тВ╣3540 to 3580 |
тВ╣3620 to 3660 |
|
Karnataka |
тВ╣3730 to 3750 |
– |
|
Uttar Pradesh |
|
тВ╣3760 to 3780 |
|
Gujarat |
тВ╣3560 to 3581 |
тВ╣3660 to 3681 |
|
Tamil Nadu |
тВ╣3800 to 3875 |
тВ╣4000 |
|
Madhya Pradesh |
тВ╣3710 to 3730 |
тВ╣3780 to 3830 |
|
Punjab |
тВ╣3920 to 3980 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on┬а┬аJuly, 15 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
тВ╣4,000.50 |
|
Kanpur |
M/30 |
тВ╣3,958.50 |
|
Kolhapur |
M/30 |
тВ╣3,827.25 |
|
Kolkata |
M/30 |
тВ╣4,032.00 |
|
Muzaffarnagar |
M/30 |
тВ╣3,958.50 |
|
Ahmedabad |
M/30 |
тВ╣3,916.50 |
|
Banglore |
M/30 |
тВ╣3,906.00 |
|
Chennai |
M/30 |
тВ╣4,032.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $545.40 ton, whereas the New York Sugar #11 front month contract is trading at 19.13 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.595 whereas USD was trading with BRL at 5.4436, Crude futures traded at тВ╣6859, Crude WTI traded at $80.81 barrel. Sensex closed 145.52 points higher at 80664.86 whereas Nifty closed 84.55 points higher at 24586.70
News Round-Up
From the EditorтАЩs desk: Growing potential for sugarcane bagasse-based vegan leather; Industry can unlock new revenue stream
World Sugar Market тАУ Weekly Comment тАУ Episode 142
