ChiniMandi, Mumbai: 28th Jan 2025
Domestic Market
Domestic sugar prices were higher
After a stable session, domestic sugar prices in major markets have reported to be higher by Rs 10-20 per quintal in the major markets. Prices have recovered by Rs 20 per quintal in Maharashtra and Karnataka and by Rs 10 per quintal in Uttar Pradesh. Rise in global prices has led to recovery in domestic prices as prices for exports are trading around Rs 40,000 per MT. According to market sources, export contracts are being executed at a good pace in the last two sessions, and we are currently at parity for LQW up to $465 per MT.
S-grade sugar in Kolhapur is ranging between Rs 3,570 and 3,620 per quintal, whereas M-grade sugar in Muzaffarnagar is trading in the range of Rs 3,940 to 4,000.
Ex-mill Sugar Prices as on Jan, 28 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3610 to 3660 |
₹3660 to 3710 |
|
South Karnataka |
₹3710 to 3800 |
₹3790 to 3850 |
|
Uttar Pradesh |
|
₹3940 to 4000 |
|
Gujarat |
₹3701 to 3791 |
₹3791 to 3831 |
|
Tamil Nadu |
₹3830 to 3960 |
₹3910 to 3950 |
|
Madhya Pradesh |
₹3820 |
₹3860 to 3870 |
|
Punjab |
₹4040 to 4101 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 28 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,210.50 |
|
Kanpur |
M/30 |
₹4,173.75 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,252.50 |
|
Muzaffarnagar |
M/30 |
₹4,168.50 |
|
Ahmedabad |
M/30 |
₹4,042.50 |
|
Bangaluru |
M/30 |
₹4,095.00 |
|
Chennai |
M/30 |
₹4,252.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $506.20 ton, whereas the New York Sugar #11 front month contract is trading at 19.19 c/lb. The corn futures market trades at 482-4 and the ethanol Chicago trades at 1.67250s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.517 whereas USD was trading with BRL at 5.9266 Crude WTI traded at $73.56 barrel. Sensex closed 535.24 points up at 75,901.41 whereas Nifty closed 128.10 points lower at 22,957.25
News Round-Up
Coca-Cola recalls drinks in Europe over higher levels of chlorate
Coca-Cola recalls drinks in Europe over higher levels of chlorate
Indonesia positively welcomes India’s invitation to join Global Biofuels Alliance
Indonesia positively welcomes India’s invitation to join Global Biofuels Alliance
