ChiniMandi, Mumbai: 11th Feb 2025
Domestic Market
Domestic sugar prices continue to trade weak
After a sharp rise, domestic sugar prices in major markets appear to be weak for the second session. Prices have fallen by Rs 10-20 per quintal, with Karnataka and Maharashtra down by Rs 10 and Uttar Pradesh by Rs 20-25.
Sugar exports typically range between Rs 42,000 and Rs 44,000 per MT, with low-quality whites fetching up to $475 per MT. Although domestic prices are gradually increasing, the weakening INR ensures export parity. There have been rumors that some export contracts were signed for Rs 46,000 per MT.
S-grade sugar in Kolhapur costs between Rs 3,740 and 3,800 per quintal, whereas M-grade sugar in Muzaffarnagar costs between Rs 4,040 and 4,100. Prices are expected to stay high in the coming days.
Ex-mill Sugar Prices as on Feb, 11 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3720 to 3740 |
₹3820 to 3885 |
|
South Karnataka |
₹3890 to 3925 |
₹3940 to 3975 |
|
Uttar Pradesh |
|
₹4050 to 4110 |
|
Gujarat |
₹3801 |
₹3901 |
|
Tamil Nadu |
₹3945 to 4025 |
₹4050 to 4100 |
|
Madhya Pradesh |
₹3980 to 4000 |
₹4020 to 4040 |
|
Punjab |
₹4150 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 11 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,336.50 |
|
Kanpur |
M/30 |
₹4,294.50 |
|
Kolhapur |
M/30 |
₹4,063.50 |
|
Kolkata |
M/30 |
₹4,410.00 |
|
Muzaffarnagar |
M/30 |
₹4,294.50 |
|
Ahmedabad |
M/30 |
₹4,231.50 |
|
Bangaluru |
M/30 |
₹4,231.50 |
|
Chennai |
M/30 |
₹4,357.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $522.30 ton, whereas the New York Sugar #11 front month contract is trading at 19.76 c/lb. The corn futures market trades at 492-6 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.710 whereas USD was trading with BRL at 5.7802 Crude WTI traded at $73.34 barrel. Sensex closed 1,018.20 points down at 76,293.60 whereas Nifty closed 309.80 points lower at 23,071.80
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