ChiniMandi, Mumbai: 25th Sep 2024
Domestic Market
Domestic sugar prices started to fall again
After a steady session, domestic sugar prices continue to fall due to weak demand. Demand is thought to be low, putting pressure on prices. Furthermore, with crushing scheduled to begin next month, prices are expected to remain under pressure. However, as global prices have risen sharply, Indian sugar has reached parity, potentially limiting aggressive price declines.
In Muzaffarnagar, M-grade sugar costs between Rs 3,800 and Rs 3,860 per quintal, while S-grade costs between Rs 3,575 and Rs 3,640 in Kolhapur. Agrimandi predicts that in the coming days, the price of S-grade sugar in Kolhapur will fall to between Rs 3,500 and Rs 3,650 per quintal.
Ex-mill Sugar Prices as onย ย Sep, 25 2024 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3570 to 3600 |
โน3650 to 3680 |
|
Karnataka |
โน3720 to 3850 |
โน3760 to 3900 |
|
Uttar Pradesh |
|
โน3800 to 3860 |
|
Gujarat |
โน3600 to 3630 |
โน3700 to 3750 |
|
Tamil Nadu |
โน3900 to 4000 |
โน3975 to 4100 |
|
Madhya Pradesh |
โน3700 to 3720 |
โน3750 to 3820 |
|
Punjab |
โน3950 to 4040 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as onย ย Sep, 25 2024 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน4,074.00 |
|
Kanpur |
M/30 |
โน4,032.00 |
|
Kolhapur |
M/30 |
โน3,869.25 |
|
Kolkata |
M/30 |
โน4,126.50 |
|
Muzaffarnagar |
M/30 |
โน4,032.00 |
|
Ahmedabad |
M/30 |
โน4,011.00 |
|
Banglore |
M/30 |
โน4,042.50 |
|
Chennai |
M/30 |
โน4,158.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $590.00 ton, whereas the New York Sugar #11 front month contract is trading at 23.02 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.593 whereas USD was trading with BRL at 5.4648, Crude futures traded at โน5888, Crude WTI traded at $70.07 barrel. Sensex closed 255.83 points higher at 85169.87 whereas Nifty closed 63.75 points higher at 26004.15
News Round-Up
Malaysia: โWednesday will be sugar-free day in Parliamentโ
Odisha approves 31 projects, including ethanol and compressed biogas
Odisha approves 31 projects, including ethanol and compressed biogas
โน1,07,732 crore paid as sugarcane dues in 2023-24 season: DFPD
โน1,07,732 crore paid as sugarcane dues in 2023-24 season: DFPD
