Category: Gold News

Daily Sugar Market Update By Vizzie – 02/04/2024

By Published On: April 11, 20241.5 min readViews: 1300 Comments on Daily Sugar Market Update By Vizzie – 02/04/2024

ChiniMandi, Mumbai: 2nd April 2024

Domestic Market

Domestic sugar were reported firm

Domestic sugar prices in major markets were reported to be firm with prices inching higher by Rs 10-15 per quintal in the major markets of Uttar Pradesh and Maharashtra. Furthermore, demand is said to be stronger as trading resumed after a financial year closure.

In Muzaffarnagar, M-grade sugar range between Rs 3,760 and Rs 3,800 per quintal, while S-grade sugar is ranges between Rs 3,430 and Rs 3,470. Agrimandi expects the price of S grade sugar in the Kolhapur market to fall to between Rs 3,400 and Rs 3,480 per quintal within the next two weeks.

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Ex-mill Sugar Prices as on  April, 2 2024 :

State

S/30

[Rates per Quintal]

M/30

[Rates per Quintal]

Maharashtra

₹3440 to 3470

₹3520 to 3550

Karnataka

₹3620 to 3630

₹3675

Uttar Pradesh

₹3760 to 3790

Gujarat

₹3461 to 3491

₹3511 to 3551

Tamil Nadu

₹3600 to 3800

₹3660 to 3850

Madhya Pradesh

₹3600 to 3610

₹3650 to 3660

Punjab

₹3825 to 3860

(All the above rates are excluding GST)

Destination-wise Spot Prices as on April, 2 2024 :

City

Grade

Rate

Delhi

M/30

₹4,005.75

Kanpur

M/30

₹3,958.50

Kolhapur

M/30

₹3,738.00

Kolkata

M/30

₹3,979.50

Muzaffarnagar

M/30

₹3,953.25

 

International Market

At the time of writing this update London White Sugar #5 front month contract is trading at $660.10 ton, whereas the New York Sugar #11 front month contract is trading at 22.85 c/lb.

Currency, Commodity & Indian Indices

The rupee traded against the US dollar at 83.410 whereas USD was trading with BRL at 5.0551, Crude futures traded at ₹7078, Crude WTI traded at $84.92 barrel. Sensex closed 110.64 points lower at 73903.91 whereas Nifty ended 8.70 points lower at 22453.30

News Round-Up

Season 2023-24: Latest sugar production updates by ISMA till March 31

Season 2023-24: Latest sugar production updates by ISMA till March 31

Sugar production in India reaches around 300 lakh tonnes

Sugar production in India reaches around 300 lakh tonnes

Sugar MSP should be increased to Rs 45 per kg: Sanjay Khatal

Sugar MSP should be increased to Rs 45 per kg: Sanjay Khatal


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