ChiniMandi, Mumbai: 26th June 2024
Domestic Market
Sugar prices traded stable
After a weak session, domestic sugar prices were traded stable across the major markets.
In an announcement on June 26, the food ministry allocated a monthly sugar quota of 24 lakh metric tonnes (LMT) for July 2024, which is similar to quantity allocated in July 2023 (24 LMT). It will be applicable from July 1, 2024. ย Following the quota announcement, the domestic market can witness price rise of Rs. 15 to 20 per quintal.
M-grade sugar in Muzaffarnagar trades in the range of Rs 3,835 and Rs 3,855 per quintal, while S-grade sugar in Kolhapur traded between Rs 3,570 and Rs 3,610. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall between Rs 3,540 and Rs 3,660 per quintal in the next two weeks.
Ex-mill Sugar Prices as onย ย June, 26 2024 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
โน3580 to 3610 |
โน3660 to 3690 |
|
Karnataka |
โน3740 to 3750 |
– |
|
Uttar Pradesh |
|
โน3835 to 3855 |
|
Gujarat |
โน3605 to 3641 |
โน3705 to 3731 |
|
Tamil Nadu |
โน3785 to 3850 |
โน3845 |
|
Madhya Pradesh |
โน3720 to 3780 |
โน3750 to 3800 |
|
Punjab |
โน3975 to 4060 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as onย June, 26 2024 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
โน4,079.25 |
|
Kanpur |
M/30 |
โน4,037.25 |
|
Kolhapur |
M/30 |
โน3,853.50 |
|
Kolkata |
M/30 |
โน4,100.25 |
|
Muzaffarnagar |
M/30 |
โน4,037.25 |
|
Ahmedabad |
M/30 |
โน3,969.00 |
|
Banglore |
M/30 |
โน3,963.75 |
|
Chennai |
M/30 |
โน4,079.25 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $563.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.24 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.567 whereas USD was trading with BRL at 5.4935, Crude futures traded at โน6803, Crude WTI traded at $81.40 barrel. Sensex closed 620.73 points higher at 78674.25 whereas Nifty closed 147.50 points higher at 23868.80
News Round-Up
BSF foils another sugar smuggling attempt
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