ChiniMandi, Mumbai: 08th Jan 2025
Domestic Market
Domestic prices started to rise again
After a steady session, domestic sugar prices in major markets continued to rise on lesser quota available. As per the market sources, the quota available with the Uttar Pradesh millers was very limited, which is pressuring Maharashtra and Karnataka, in turn supporting the prices. Prices were increased by Rs 10 per quintal across the markets. In addition to lower availability of sugar, rumours of increasing MSP is supporting the sentiment in the spot markets.
S-grade sugar in Kolhapur costs between Rs 3,420 and 3,460 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,790 to 3,850. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,360 and Rs 3,480 per quintal in the near future.
Ex-mill Sugar Prices as on Jan, 08 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3430 to 3500 |
₹3500 to 3600 |
|
South Karnataka |
₹3625 to 3675 |
₹3640 to 3725 |
|
Uttar Pradesh |
|
₹3830 to 3890 |
|
Gujarat |
₹3541 to 3581 |
₹3561 to 3641 |
|
Tamil Nadu |
₹3750 to 3950 |
₹3810 to 3975 |
|
Madhya Pradesh |
₹3625 to 3675 |
₹3695 to 3775 |
|
Punjab |
₹3940 to 4011 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 08 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.50 |
|
Kanpur |
M/30 |
₹4,053.00 |
|
Kolhapur |
M/30 |
₹3,727.50 |
|
Kolkata |
M/30 |
₹4,116.00 |
|
Muzaffarnagar |
M/30 |
₹4,047.75 |
|
Ahmedabad |
M/30 |
₹3,895.50 |
|
Bangaluru |
M/30 |
₹3,948.00 |
|
Chennai |
M/30 |
₹4,084.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $507.80 ton, whereas the New York Sugar #11 front month contract is trading at 19.43 c/lb. The corn futures market trades at 457-4 and the ethanol Chicago trades at 1.64250s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.887 whereas USD was trading with BRL at 6.0735, Crude WTI traded at $74.72 barrel. Sensex closed 50.62 points down at 78,148.49 whereas Nifty closed 18.95 points lower at 23,688.95
News Round-Up
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