ChiniMandi, Mumbai: 18th March 2024
Domestic Market
Stable to firm sentiment witnessed in domestic sugar prices
Domestic sugar prices in the major markets have remained steady to firm due to strong demand. Prices in Uttar Pradesh’s major markets rose by Rs 10-15 per quintal, while sentiment remained stable in Kolhapur. Lower monthly quotas in Uttar Pradesh are supporting prices.
M-grade sugar in Muzaffarnagar ranges between Rs 3,785 and Rs 3,820 per quintal, whereas S-grade sugar in Kolhapur is expected to cost between Rs 3,430 and Rs 3,470. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks. Sugar grades in Solapur range from Rs 3360 to Rs 3,400 per quintal.
Ex-mill Sugar Prices as on March, 18 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3420 to 3470 |
₹3500 to 3550 |
|
Karnataka |
₹3600 |
– |
|
Uttar Pradesh |
|
₹3785 to 3820 |
|
Gujarat |
₹3481 to 3521 |
₹3531 to 3581 |
|
Tamil Nadu |
₹3590 to 3640 |
₹3675 |
|
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 March, 18 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,032.00 |
|
Kanpur |
M/30 |
₹3,984.75 |
|
Kolhapur |
M/30 |
₹3,738.00 |
|
Kolkata |
M/30 |
₹4,011.00 |
|
Muzaffarnagar |
M/30 |
₹3,979.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $625.10 ton, whereas the New York Sugar #11 front month contract is trading at 22.07 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 82.908 whereas USD was trading with BRL at 4.9871, Crude futures traded at ₹6755, Crude WTI traded at $81.04 barrel. Sensex closed 104.99 points higher at 72748.42 whereas Nifty ended 32.35 points higher at 22055.70
News Round-Up
Season 2023-24: Latest sugar production updates by ISMA till March 15
Season 2023-24: Latest sugar production updates by ISMA till March 15
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Millet push increased farmers’ income 10-20% in Uttarakhand: IIM Kashipur study
Millet push increased farmers’ income 10-20% in Uttarakhand: IIM Kashipur study
