ChiniMandi, Mumbai: 26th Feb 2025
Domestic Market
Domestic sugar prices surged on lower monthly quota
Domestic sugar prices in the major markets of Uttar Pradesh, Maharashtra, and Karnataka have surged on the back of lower quota allocation for the month of March. Prices were up by Rs 50 per quintal in Uttar Pradesh, while they were up by Rs 20 per quintal in Maharashtra and Karnataka. Additionally, faster closure of mills is supporting the prices in the major markets.
The monthly quota for the month of March was released yesterday 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 is trading around Rs 44,000 per MT, as prices are trading higher good contracts pace was reported. 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 3,750 and 3,820 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 4,030 and 4,080.
Ex-mill Sugar Prices as on Feb, 26 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3755 to 3765 |
₹3815 to 3875 |
|
South Karnataka |
₹3925 to 3975 |
₹3975 to 4025 |
|
Uttar Pradesh |
|
₹4020 to 4080 |
|
Gujarat |
₹3831 |
₹3931 |
|
Tamil Nadu |
₹4000 to 4100 |
₹4060 to 4175 |
|
Madhya Pradesh |
₹4030 to 4050 |
₹4100 to 4120 |
|
Punjab |
₹4075 to 4161 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 26 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,315.50 |
|
Kanpur |
M/30 |
₹4,263.00 |
|
Kolhapur |
M/30 |
₹4,074.00 |
|
Kolkata |
M/30 |
₹4,368.00 |
|
Muzaffarnagar |
M/30 |
₹4,257.75 |
|
Ahmedabad |
M/30 |
₹4,200.00 |
|
Bangaluru |
M/30 |
₹4,231.50 |
|
Chennai |
M/30 |
₹4,336.50 |
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