ChiniMandi, Mumbai: 14th Feb 2025
Domestic Market
Downtrend continued in domestic sugar prices
Sugar prices are falling due to weak demand following a sharp increase. Domestic sugar prices in major markets are reported to be lower by Rs 10-20 per quintal. Prices in Karnataka and Maharashtra have dropped by Rs 10 and in Uttar Pradesh by Rs 20. Resale rates were reported to be lower, but mill quotes did not decrease.
Sugar exports are typically priced between Rs 42,000 and 44,000 per MT. And low-quality whites will be in parity up to $466 per MT. S-grade sugar in Kolhapur ranges between Rs 3,710 and 3,770 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 4,000 and 4,050.
Ex-mill Sugar Prices as on Feb, 14 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 |
|
₹4000 to 4060 |
|
Gujarat |
₹3841 |
₹3941 |
|
Tamil Nadu |
₹3945 to 4140 |
₹4005 to 4125 |
|
Madhya Pradesh |
₹4010 to 4020 |
₹4080 to 4090 |
|
Punjab |
₹4100 to 4161 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 14 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,284.00 |
|
Kanpur |
M/30 |
₹4,242.00 |
|
Kolhapur |
M/30 |
₹4,032.00 |
|
Kolkata |
M/30 |
₹4,347.00 |
|
Muzaffarnagar |
M/30 |
₹4,242.00 |
|
Ahmedabad |
M/30 |
₹4,189.50 |
|
Bangaluru |
M/30 |
₹4,200.00 |
|
Chennai |
M/30 |
₹4,305.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $529.20 ton, whereas the New York Sugar #11 front month contract is trading at 20.18 c/lb. The corn futures market trades at 497-4 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.693 whereas USD was trading with BRL at 5.7782 Crude WTI traded at $71.90 barrel. Sensex closed 199.76 points down at 75,939.21 whereas Nifty closed 102.15 points lower at 22,929.25
News Round-Up
Wholesale inflation eases in January in line with retail figures
Wholesale inflation eases in January in line with retail figures
Zuari Industries’ financial results: Strong Q3 FY25 performance with record sugar production, ethanol and power sales
BPCL signs MoU with National Sugar Institute to scale up sweet sorghum-based bioethanol production
BPCL signs MoU with National Sugar Institute to scale up sweet sorghum-based bioethanol production
