Domestic Sugar prices reported stable
Domestic sugar prices reported stable after trading weak for two sessions. As of February 15, 2024, Indian mills have produced 22.3 MMT, down by just 3.4% year on year. Expected improvement in sugar production is likely to weigh on sugar production in coming days as well. On all India basis 26 mills have closed operations against 31 mills of last year. In Maharashtra only 4 mills have closed against 17 of last year.
According to updates, S-grade sugar in Kolhapur trades between Rs 3,420 and Rs 3,460 per quintal, whereas M-grade sugar in Muzaffarnagar ranges between Rs 3,740 and Rs 3,800. According to Agrimandi, the cost of S grade sugar in the Kolhapur market is expected to trade between Rs 3,400 and Rs 3,520 per quintal in the coming two weeks. However, prices in Solapur were reported to be between Rs 3,330 and Rs 3,400 per quintal.
Ex-mill Sugar Prices as on February, 17 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 |
₹3700 to 3720 |
₹3750 to 3770 |
|
Punjab |
₹3825 to 3880 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on February, 17 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,005.75 |
|
Kanpur |
M/30 |
₹3,958.50 |
|
Kolhapur |
M/30 |
₹3,748.50 |
|
Kolkata |
M/30 |
₹3,995.25 |
|
Muzaffarnagar |
M/30 |
₹3,948.00 |
