ChiniMandi, Mumbai: 25th Feb 2025
Domestic Market
Domestic sugar prices were mostly stable; March monthly quota at 23 lakh tons
Domestic sugar prices were reported to be stable across the major markets of Uttar Pradesh, Maharashtra, and Karnataka. Faster closure of mills is supporting the prices in Maharashtra and Karnataka. Demand is reported to be good at current price levels.
The monthly quota for the month of March is released today and is reported to be at 23.0 lakh tons, lower by 0.5 lakh tons compared to the same month previous year, but higher by 0.5 lakh tons compared to the previous month. Given that Ramadan will start on February 28th, the quota is less than market anticipated, and prices are likely to remain supported in the coming month.
Sugar for exports are typically priced between Rs 42,000 and 44,000 per MT. Low-quality whites will be parity until $475 per MT, and London whites of the most active contract are quoting at $537 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, 25 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3755 to 3765 |
₹3815 to 3875 |
|
South Karnataka |
₹3900 to 3950 |
₹3950 to 4000 |
|
Uttar Pradesh |
|
₹3970 to 4030 |
|
Gujarat |
₹3791 |
₹3891 |
|
Tamil Nadu |
₹3980 to 4100 |
₹4040 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, 25 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 $554.00 ton, whereas the New York Sugar #11 front month contract is trading at 21.15c/lb. The corn futures market trades at 478-2 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.087 whereas USD was trading with BRL at 5.7252 Crude WTI traded at $70.41 barrel. Sensex closed 147.71 points up at 74,602.12 whereas Nifty closed 5.80 points lower at 22,547.55
News Round-Up
Second reallocation of export quota for export during sugar season 2024-25 released
Government fixes 23 LMT monthly sugar quota for domestic sale in March 2025
Government fixes 23 LMT monthly sugar quota for domestic sale in March 2025
Government issues clarification regarding ethanol production from sugarcane Juice/syrup by standalone distilleries
Season 2024-25: 53 sugar mills conclude operations in Maharashtra, 36 in Solapur
Season 2024-25: 53 sugar mills conclude operations in Maharashtra, 36 in Solapur
