ChiniMandi, Mumbai: 28th Feb 2025
Domestic Market
Domestic sugar prices were stable to higher
Due to strong demand, domestic sugar prices are said to be stable to rising in the main markets of Karnataka, Maharashtra, and Uttar Pradesh. Prices in Maharashtra and Karnataka stayed the same, but prices inched up by Rs 20 per quintal. According to the sources, prices are being supported by very strong demand. Additionally, the prices in the main markets are being supported by the quicker closure of mills.
According to reports, sugar for export is selling for about Rs 44,000 per MT because prices are rising at a good contract pace. London whites of the most active contract are quoting at $539 per MT, while low-quality whites will remain parity until $475 per MT. While M-grade sugar in Muzaffarnagar costs between Rs 4,050 and Rs 4,100 per quintal, S-grade sugar in Kolhapur costs between Rs 3,750 and Rs 3,820.
Ex-mill Sugar Prices as on Feb, 28 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3755 to 3765 |
₹3815 to 3875 |
|
South Karnataka |
₹3950 |
₹4000 |
|
Uttar Pradesh |
|
₹4040 to 4100 |
|
Gujarat |
₹3851 to 3861 |
₹3951 to 3961 |
|
Tamil Nadu |
₹4025 to 4075 |
₹4125 |
|
Madhya Pradesh |
₹4010 to 4020 |
₹4050 to 4070 |
|
Punjab |
₹4075 to 4161 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 28 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,336.50 |
|
Kanpur |
M/30 |
₹4,284.00 |
|
Kolhapur |
M/30 |
₹4,074.00 |
|
Kolkata |
M/30 |
₹4,389.00 |
|
Muzaffarnagar |
M/30 |
₹4,278.75 |
|
Ahmedabad |
M/30 |
₹4,200.00 |
|
Bangaluru |
M/30 |
₹4,242.00 |
|
Chennai |
M/30 |
₹4,357.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $536.40 ton, whereas the New York Sugar #11 front month contract is trading at 19.54c/lb. The corn futures market trades at 465-6 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.379 whereas USD was trading with BRL at 5.8222 Crude WTI traded at $69.40 barrel. Sensex closed 1,414.33 points down at 73,198.10 whereas Nifty closed 420.36 points lower at 22,124.70
News Round-Up
2024-25 season: 177 mills end crushing operations; sugar production reaches 219.78 lakh tonnes
2024-25 season: 177 mills end crushing operations; sugar production reaches 219.78 lakh tonnes
March is likely to be unusually hot this year: Report
NFCSF lowers sugar production estimate to 265 lakh tonnes for 2024-25 season
