ChiniMandi, Mumbai: 22nd Nov 2024
Domestic Market
Domestic sugar prices fell again
After remaining stable for three sessions, domestic sugar prices in the major markets were reported to be Rs 10 per quintal lower. Crushing is continued to start across the states as 95 mills operational in Uttar Pradesh and 50+ mills operating in Karnataka. Crushing in Maharashtra is likely to start from this week as elections concluded.
Demand is said to be dull, with buyers preferring hand-to-mouth, and the government has not announced an increase in sugar MSP, putting pressure on prices from the beginning of the month.
S-grade sugar in Kolhapur costs Rs 3,400-3,470 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,740-3,790. According to Agrimandi.live, Kolhapur S-grade sugar will be priced between Rs 3,380 and Rs 3,500 per quintal in the near future.
Ex-mill Sugar Prices as on┬а┬аNov, 22 2024 :┬а
|
State |
S/30┬а [Rates per Quintal]┬а |
M/30 [Rates per Quintal]┬а |
|
Maharashtra |
тВ╣3400 to 3460 |
тВ╣3500 to 3540 |
|
South Karnataka |
тВ╣3560 to 3660 |
тВ╣3620 to 3710 |
|
Uttar Pradesh |
|
тВ╣3780 to 3830 |
|
Gujarat |
тВ╣3535 to 3561 |
тВ╣3571 to 3651 |
|
Tamil Nadu |
тВ╣3700 to 3850 |
тВ╣3760 to 3950 |
|
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, 22 2024 :┬а
|
City┬а |
Grade┬а |
Rate┬а |
|
Delhi |
M/30 |
тВ╣4,011.00 |
|
Kanpur |
M/30 |
тВ╣3,969.00 |
|
Kolhapur |
M/30 |
тВ╣3,706.50 |
|
Kolkata |
M/30 |
тВ╣4,021.50 |
|
Muzaffarnagar |
M/30 |
тВ╣3,969.00 |
|
Ahmedabad |
M/30 |
тВ╣3,864.00 |
|
Banglore |
M/30 |
тВ╣3,916.50 |
|
Chennai |
M/30 |
тВ╣4,021.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $553.10 ton, whereas the New York Sugar #11 front month contract is trading at 21.31 c/lb. The corn futures market trades at 427-6 and the ethanol Chicago trades at 1.62500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.447 whereas USD was trading with BRL at 5.8132, Crude WTI traded at $69.54 barrel. Sensex closed 1961.32 points up at 79,117.11 whereas Nifty closed 557.35 points upper at 23907.25.
