ChiniMandi, Mumbai: 10th Jan 2025
Domestic Market
Domestic prices remained stable
Domestic sugar prices in major markets have remained stable for the second session. According to market sources, demand is strong, keeping prices at a one-month high. In addition to the lower availability of sugar, rumors of an increase in MSP are boosting sentiment in the spot markets.
S-grade sugar in Kolhapur costs between Rs 3,420 and 3,460 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,830 to 3,880. 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, 10 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 3900 |
₹3810 to 3975 |
|
Madhya Pradesh |
₹3625 to 3675 |
₹3695 to 3775 |
|
Punjab |
₹3950 to 4021 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 10 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 $509.60 ton, whereas the New York Sugar #11 front month contract is trading at 19.43 c/lb. The corn futures market trades at 457-6 and the ethanol Chicago trades at 1.61750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.026 whereas USD was trading with BRL at 6.0890, Crude WTI traded at $76.35 barrel. Sensex closed 241.30 points down at 77,378.91 whereas Nifty closed 95.00 points lower at 23,431.50
News Round-Up
Tamil Nadu: Food safety officials seize sugar from jaggery manufacturing units in Namakkal
Tamil Nadu: Food safety officials seize sugar from jaggery manufacturing units in Namakkal
Punjab govt rejects Centre’s draft policy on agricultural marketing
Punjab govt rejects Centre’s draft policy on agricultural marketing
Tata, Mahindra, Toyota, Hyundai, and Suzuki in process of launching their flex engine four-wheelers on 100% bioethanol: Nitin Gadkari
