ChiniMandi, Mumbai: 24th Feb 2025
Domestic Market
Steady to weak sentiment witnessed in Domestic sugar prices
Domestic sugar prices were reported to be stable to weak, with prices falling by Rs 20 per quintal in Uttar Pradesh and remaining stable in Maharashtra and Karnataka. Faster closure of mills is supporting the prices in Maharashtra and Karnataka. Demand is reported to be good, and the monthly quota for the month of March is expected to be released by Thursday.
Sugar exports are typically priced between Rs 42,000 and 44,000 per MT. Low-quality whites will be parity till $475 per MT, and London whites of the most active contract is quoting at $541 per MT. S-grade sugar in Kolhapur ranges between Rs 3,730 and 3,800 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 3,980 and 4,030.
Ex-mill Sugar Prices as on Feb, 24 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3740 to 3750 |
₹3800 to 3860 |
|
South Karnataka |
₹3900 to 3950 |
₹3950 to 4000 |
|
Uttar Pradesh |
|
₹3970 to 4030 |
|
Gujarat |
₹3811 |
₹3911 |
|
Tamil Nadu |
₹4000 to 4100 |
₹4100 to 4175 |
|
Madhya Pradesh |
₹3925 to 3990 |
₹3950 to 4040 |
|
Punjab |
₹4070 to 4121 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 24 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,252.50 |
|
Kanpur |
M/30 |
₹4,210.50 |
|
Kolhapur |
M/30 |
₹4,053.00 |
|
Kolkata |
M/30 |
₹4,315.50 |
|
Muzaffarnagar |
M/30 |
₹4,205.25 |
|
Ahmedabad |
M/30 |
₹4,179.00 |
|
Bangaluru |
M/30 |
₹4,210.50 |
|
Chennai |
M/30 |
₹4,315.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $561.10 ton, whereas the New York Sugar #11 front month contract is trading at 21.34c/lb. The corn futures market trades at 486-2 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.678 whereas USD was trading with BRL at 5.7021 Crude WTI traded at $70.50 barrel. Sensex closed 856.65 points down at 74,454.41 whereas Nifty closed 242.55 points lower at 22,553.35
News Round-Up
Elon Musk reacts to Satya Nadella’s praise of AI-driven sugarcane farming in Baramati, says AI will improve everything
Tamil Nadu: Ponni Sugars acquires jaggery manufacturing unit in Erode
Tamil Nadu: Ponni Sugars acquires jaggery manufacturing unit in Erode
Madhya Pradesh: Agricultural scientists conducting research on making sugar from beetroot
Madhya Pradesh: Agricultural scientists conducting research on making sugar from beetroot
