Category: Forex News

Daily Sugar Market Update By Vizzie – 05/04/2024

By Published On: April 11, 20241.6 min readViews: 2320 Comments on Daily Sugar Market Update By Vizzie – 05/04/2024

ChiniMandi, Mumbai: 5th April 2024

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Domestic Market

Domestic sugar continue to trade stable

Domestic sugar prices in major markets were reported to be stable after a mixed session yesterday. However, with a larger monthly quota, they are likely to face more pressure in the coming days. Furthermore, demand in the major markets is expected to be low, putting pressure on prices.

In Muzaffarnagar, M-grade sugar is priced between Rs 3,770 and Rs 3,800 per quintal, while S-grade sugar is expected to cost between Rs 3,420 and Rs 3,450. Agrimandi predicts that the price of S grade sugar in the Kolhapur market will fall to between Rs 3,380 and Rs 3,460 per quintal within the next two weeks.

Ex-mill Sugar Prices as on  April, 5 2024 :

State

S/30

[Rates per Quintal]

M/30

[Rates per Quintal]

Maharashtra

₹3440 to 3470

₹3520 to 3550

Karnataka

₹3620 to 3650

Uttar Pradesh

₹3760 to 3790

Gujarat

₹3471 to 3501

₹3521 to 3561

Tamil Nadu

₹3650 to 3800

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, 5 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 $647.00 ton, whereas the New York Sugar #11 front month contract is trading at 22.25 c/lb.

Currency, Commodity & Indian Indices

The rupee traded against the US dollar at 83.326 whereas USD was trading with BRL at 5.0549, Crude futures traded at ₹7207, Crude WTI traded at $86.53 barrel. Sensex closed 20.59 points higher at 74248.22 whereas Nifty ended 0.95 points lower at 22513.70

News Round-Up

Government allows 64,494 tonnes of sugar export to Maldives

Government allows 64,494 tonnes of sugar export to Maldives

Government has no plans to resume sale of subsidised rice for ethanol production: Food Secretary

Government has no plans to resume sale of subsidised rice for ethanol production: Food Secretary

Wheat price won’t be affected: RBI Governor on heatwave predictions

Wheat price won’t be affected: RBI Governor on heatwave predictions

 


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