Domestic sugar prices continued to fall
Domestic sugar prices fell by another Rs 10 per quintal across major markets. Prices have decreased by Rs 130-150 per quintal from the recent high. Despite the price decline, demand continues to be low as buyers adopt a hand-to-mouth purchasing strategy. Crushing in Karnataka and Maharashtra is delayed by 20-30 days this season; however, adequate stocks are keeping prices lower.
The price of M-grade sugar in Muzaffarnagar ranges from Rs 3,810 to Rs 3,860 per quintal, whereas S-grade sugar in Kolhapur is priced between Rs 3,510 and Rs 3,580. Agrimandi.live anticipates that S-grade sugar prices in Kolhapur will range from Rs 3,500 to Rs 3,620 per quintal in the near future.
Ex-mill Sugar Prices as on Oct, 24 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3470 to 3530 |
₹3550 to 3600 |
|
South Karnataka |
₹3620 to 3775 |
₹3670 to 3825 |
|
Uttar Pradesh |
|
₹3810 to 3860 |
|
Gujarat |
₹3591 to 3641 |
₹3645 to 3765 |
|
Tamil Nadu |
₹3725 to 3925 |
₹3785 to 4025 |
|
Madhya Pradesh |
₹3700 to 3720 |
₹3750 to 3820 |
|
Punjab |
₹3950 to 4050 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Oct, 24 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,042.50 |
|
Kolhapur |
M/30 |
₹3,822.00 |
|
Kolkata |
M/30 |
₹4,116.00 |
|
Muzaffarnagar |
M/30 |
₹4,042.50 |
|
Ahmedabad |
M/30 |
₹3,969.00 |
|
Bangalore |
M/30 |
₹4,011.00 |
|
Chennai |
M/30 |
₹4,116.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $574.30 ton, whereas the New York Sugar #11 front month contract is trading at 22.34 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.073 whereas USD was trading with BRL at 5.7122, Crude WTI traded at $71.16 barrel. Sensex closed 16.82 points lower at 80,065.16 whereas Nifty closed 36.10 points lower at 24,399.40.
