ChiniMandi, Mumbai: 01st Mar 2025
Domestic Market
Domestic sugar prices were higher
Domestic sugar prices in Karnataka, Maharashtra, and Uttar Pradesh are expected to rise due to high demand. Prices in the markets remained up by Rs 20 per quintal. According to the sources, prices are being supported by extremely high demand. Furthermore, the faster closure of mills helps to support prices in the main markets.
As per the latest update, Indian sugar production reached 22.0 MMT lower by 13.7% y/y on the back of lower sugar production across the growing states. Around 186 mills have closed operations as against just 71 mills last year. Sugar production is reported to be lower across the major states in the range of 8–18%.
According to reports, sugar for export is selling for around Rs 44,000 per MT as prices rise at a good contract rate. London whites in the most active contract are quoting at $539 per MT, while low-quality whites will remain at par until $475 per MT. In Muzaffarnagar, M-grade sugar costs between Rs 4,070 and Rs 4,120 per quintal, while in Kolhapur, S-grade sugar costs between Rs 3,770 and Rs 3,840.
Ex-mill Sugar Prices as on Mar, 01 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3755 to 3765 |
₹3815 to 3875 |
|
South Karnataka |
₹3940 |
|
|
Uttar Pradesh |
|
₹4060 to 4120 |
|
Gujarat |
₹3891 to 3921 |
₹3991 to 4021 |
|
Tamil Nadu |
₹4100 to 4200 |
₹4250 |
|
Madhya Pradesh |
₹4010 to 4020 |
₹4050 to 4070 |
|
Punjab |
₹4100 to 4171 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 01 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,357.50 |
|
Kanpur |
M/30 |
₹4,305.00 |
|
Kolhapur |
M/30 |
₹4,095.00 |
|
Kolkata |
M/30 |
₹4,410.00 |
|
Muzaffarnagar |
M/30 |
₹4,299.75 |
|
Ahmedabad |
M/30 |
₹4,210.50 |
|
Bangaluru |
M/30 |
₹4,263.00 |
|
Chennai |
M/30 |
₹4,378.50 |
News Round-Up
Triveni Engineering’s strategic shift: Reducing dependency on Co-0238 sugarcane variety
Triveni Engineering’s strategic shift: Reducing dependency on Co-0238 sugarcane variety
ICE March raw sugar delivery seen at 1.74 million tonnes: Traders
ICE March raw sugar delivery seen at 1.74 million tonnes: Traders
Maharashtra: Fire at Kolhapur’s sugar mill causes heavy losses
Maharashtra: Fire at Kolhapur’s sugar mill causes heavy losses
