ChiniMandi, Mumbai: 04th Mar 2025
Domestic Market
Stable to weak sentiment reported in domestic sugar prices
Domestic sugar prices in Karnataka and Maharashtra remained stable, while resale prices in Uttar Pradesh fell by Rs 20 per quintal. However, ex-mill prices did not show a weak sentiment; only resale quotes were lower. According to market sources, demand is reported to be subdued, weighing on resale prices. As sugar production declines, ex-mill prices remain firm.
According to reports, sugar for export is selling for around Rs 44,000 per MT. London whites in the most active contract are quoted at $530 per MT, while low-quality whites will be priced at par until $475 per MT. M-grade sugar in Muzaffarnagar costs between Rs 4,050 and Rs 4,100 per quintal, whereas S-grade sugar in Kolhapur costs between Rs 3,770 and Rs 3,840.
Ex-mill Sugar Prices as on Mar, 04 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3755 to 3765 |
₹3815 to 3875 |
|
South Karnataka |
₹3990 to 4000 | ₹4050 |
|
Uttar Pradesh |
|
₹4040 to 4100 |
|
Gujarat |
₹3891 to 3921 |
₹3991 to 4021 |
|
Tamil Nadu |
₹4075 to 4300 |
₹4135 to 4250 |
|
Madhya Pradesh |
₹4065 to 4085 |
₹4135 to 4155 |
|
Punjab |
₹4110 to 4181 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 04 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,326.00 |
|
Kanpur |
M/30 |
₹4,273.50 |
|
Kolhapur |
M/30 |
₹4,095.00 |
|
Kolkata |
M/30 |
₹4,399.50 |
|
Muzaffarnagar |
M/30 |
₹4,268.25 |
|
Ahmedabad |
M/30 |
₹4,200.00 |
|
Bangaluru |
M/30 |
₹4,263.00 |
|
Chennai |
M/30 |
₹4,378.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $523.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.51c/lb. The corn futures market trades at 436-0 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.167 whereas USD was trading with BRL at 5.8482 Crude WTI traded at $67.42 barrel. Sensex closed 96.01 points down at 72,989.93 whereas Nifty closed 36.65 points lower at 22,082.65
News Round-Up
Sugar production in Maharashtra reaches 76 lakh tonnes; 92 mills end crushing operations
Sugar production in Maharashtra reaches 76 lakh tonnes; 92 mills end crushing operations
UP government focuses on increasing maize production
Indonesia plans to plant 1.2 million hectares of sugar palm for ethanol production
Indonesia plans to plant 1.2 million hectares of sugar palm for ethanol production
