ChiniMandi, Mumbai: 06th Feb 2025
Domestic Market
Domestic sugar prices were stable
Domestic sugar prices in major markets appear to be stable. Prices in North India were reported to be stable for the fourth session, while Maharashtra and Karnataka remained stable following a sharp rise over the previous two sessions.
Expected lower output, combined with export permission for 1.0 MMT, is supporting spot market prices. Around 14 mills have closed operations in Maharashtra. Sugar exports range between Rs 42,000 and Rs 44,000 per MT, and exports of low-quality whites will be at par until $470 per MT. Exports are slowing as millers anticipate further increases 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, 6 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3730 to 3750 |
₹3830 to 3895 |
|
South Karnataka |
₹3850 to 3925 |
₹3950 to 3975 |
|
Uttar Pradesh |
|
₹4070 to 4130 |
|
Gujarat |
₹3801 to 3831 |
₹3901 to 3941 |
|
Tamil Nadu |
₹3850 to 4100 |
₹3910 to 4175 |
|
Madhya Pradesh |
₹4000 |
₹4020 to 4030 |
|
Punjab |
₹4180 to 4200 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 6 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 $535.00 ton, whereas the New York Sugar #11 front month contract is trading at 20.13 c/lb. The corn futures market trades at 495-2 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.578 whereas USD was trading with BRL at 5.7991 Crude WTI traded at $71.43 barrel. Sensex closed 213.12 points down at 78,058.16 whereas Nifty closed 92.95 points lower at 23,603.35
News Round-Up
Season 2024-25: Sugar production in Maharashtra reaches 60 lakh tonnes; 14 mills end operations
Season 2024-25: Sugar production in Maharashtra reaches 60 lakh tonnes; 14 mills end operations
Ethanol boost: Honda Cars achieves E20 petrol compliance for entire model range
Ethanol boost: Honda Cars achieves E20 petrol compliance for entire model range
Government’s sugar export policy boosts cane payments and stabilizes market: ISMA
Government’s sugar export policy boosts cane payments and stabilizes market: ISMA
