ChiniMandi, Mumbai: 05th Feb 2025
Domestic Market
Domestic sugar prices were stable to higher
Domestic sugar prices in major markets are reported to be stable to higher. Prices in North India were reported to be stable for the third session, while in Maharashtra and Karnataka they were reported higher by Rs 30 per quintal. Expected lower production, combined with export permission for 1.0 MMT, is supporting spot market prices.
Sugar for exports is traded between Rs 42,000 and Rs 44,000 per MT, and exports for low-quality whites will be in parity till $470 per MT. Exports are happening at slower pace as millers anticipate further rise in global prices.
S-grade sugar in Kolhapur costs between Rs 3,750 and 3,810 per quintal, while M-grade sugar in Muzaffarnagar ranges from Rs 4,070 to 4,130.
Ex-mill Sugar Prices as on Feb, 5 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3740 to 3760 |
₹3840 to 3905 |
|
South Karnataka |
₹3850 to 3925 |
₹3950 to 3975 |
|
Uttar Pradesh |
|
₹4070 to 4130 |
|
Gujarat |
₹3841 |
₹3931 |
|
Tamil Nadu |
₹3850 to 4100 |
₹3910 to 4175 |
|
Madhya Pradesh |
₹3980 |
₹4020 to 4030 |
|
Punjab |
₹4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 5 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,357.50 |
|
Kanpur |
M/30 |
₹4,326.00 |
|
Kolhapur |
M/30 |
₹4,074.00 |
|
Kolkata |
M/30 |
₹4,441.50 |
|
Muzaffarnagar |
M/30 |
₹4,326.00 |
|
Ahmedabad |
M/30 |
₹4,242.00 |
|
Bangaluru |
M/30 |
₹4,252.50 |
|
Chennai |
M/30 |
₹4,399.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $527.60 ton, whereas the New York Sugar #11 front month contract is trading at 19.66 c/lb. The corn futures market trades at 496-0 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.405whereas USD was trading with BRL at 5.7921 Crude WTI traded at $71.94 barrel. Sensex closed 312.53 points down at 78,271.28 whereas Nifty closed 42.95 points lower at 23,696.30
News Round-Up
No timeline fixed by Government for decision on revising sugar MSP: Minister
No timeline fixed by Government for decision on revising sugar MSP: Minister
Ethanol producer BCL Industries’ total distillery capacity will increase from 700 KLPD to 1100 KLPD in near future
Central Railway sees 24% increase in sugar rake loadings in January 2025
Central Railway sees 24% increase in sugar rake loadings in January 2025
