ChiniMandi, Mumbai: 31st Jan 2025
Domestic Market
Steady sentiment witnessed in domestic sugar prices
After a increase for a two sessions, domestic sugar prices in major markets have been reported to be stable across the major markets of Uttar Praresh, Maharashtra and Karnataka. The sugar for export are trading around Rs 40,000 per MT. According to market sources, export contracts have been executed at a good pace over the current week, and we are now at parity for LQW up to $470 per MT.
In cycle 3, Oil Marketing Companies (OMCs) have invited bids for the supply of approximately 124 crore litres of Denatured Anhydrous Ethanol for the second and third quarters of ESY 2024-25, which will be sourced from C-heavy molasses and surplus rice from FCI.
S-grade sugar in Kolhapur is priced between Rs 3,610 and 3,650 per quintal, while M-grade sugar in Muzaffarnagar ranges from Rs 3,960 to 4,020.
Ex-mill Sugar Prices as on Jan, 31 2025 :Â
|
State |
S/30Â [Rates per Quintal]Â |
M/30 [Rates per Quintal]Â |
|
Maharashtra |
₹3660 to 3680 |
₹3680 to 3740 |
|
South Karnataka |
₹3800 to 3850 |
₹3875 to 3900 |
|
Uttar Pradesh |
|
₹3960 to 4020 |
|
Gujarat |
₹3761 to 3851 |
₹3851 to 3891 |
|
Tamil Nadu |
₹3875 to 3960 |
₹3935 to 3950 |
|
Madhya Pradesh |
₹3810 to 3820 |
₹3850 to 3870 |
|
Punjab |
₹4040 to 4101 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 31 2025 :Â
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,231.50 |
|
Kanpur |
M/30 |
₹4,194.75 |
|
Kolhapur |
M/30 |
₹3,916.00 |
|
Kolkata |
M/30 |
₹4,284.00 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
|
Ahmedabad |
M/30 |
₹4,074.00 |
|
Bangaluru |
M/30 |
₹4,126.50 |
|
Chennai |
M/30 |
₹4,284.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $516.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.23 c/lb. The corn futures market trades at 480-6 and the ethanol Chicago trades at 1.67250s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.585 whereas USD was trading with BRL at 5.9000 Crude WTI traded at $73.03 barrel. Sensex closed 740.76 points up at 77,500.57 whereas Nifty closed 258.90 points higher at 23,508.40
News Round-Up
Govt planning to lower prices of ethanol for vehicles: Union Minister Nitin Gadkari
Govt planning to lower prices of ethanol for vehicles: Union Minister Nitin Gadkari
Government to review ethanol pricing after Delhi elections: Union Minister Nitin Gadkari
Government to review ethanol pricing after Delhi elections: Union Minister Nitin Gadkari
