ChiniMandi, Mumbai: 06th Mar 2025
Domestic Market
Weak sentiment witnessed in domestic sugar prices
Domestic sugar prices in the major markets of Karnataka, Maharashtra, and Uttar Pradesh were reported to be weak, with prices falling by Rs 10-20 per quintal. Prices mostly fell in resale quotes while ex-mill quotes remained stable, indicating less pressure from the miller side. According to market sources, demand is expected to be weak, weighing on resale prices. As sugar production decreases, ex-mill prices remain stable.
According to reports, sugar for export is selling for around Rs 44,000 per MT, with prices rising at a reasonable contract rate. London whites in the most active contract are quoted at $520 per MT, with low-quality whites priced at par until $475 per MT. M-grade sugar in Muzaffarnagar ranges between Rs 4,040 and Rs 4,100 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,760 and Rs 3,830.
Ex-mill Sugar Prices as on Mar, 06 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3745 to 3755 |
₹3805 to 3865 |
|
South Karnataka |
₹3975 to 4000 |
₹4025 to 4075 |
|
Uttar Pradesh |
|
₹4020 to 4080 |
|
Gujarat |
₹3871 to 3901 |
₹3971 to 4001 |
|
Tamil Nadu |
₹4050 to 4200 |
₹4110 to 4250 |
|
Madhya Pradesh |
₹4045 to 4075 |
₹4110 to 4145 |
|
Punjab |
₹4110 to 4161 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 06 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 |
₹4,399.50 |
|
Muzaffarnagar |
M/30 |
₹4,257.75 |
|
Ahmedabad |
M/30 |
₹4,200.00 |
|
Bangaluru |
M/30 |
₹4,252.50 |
|
Chennai |
M/30 |
₹4,357.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $519.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.51c/lb. The corn futures market trades at 442-4 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.127 whereas USD was trading with BRL at 5.7908 Crude WTI traded at $66.74 barrel. Sensex closed 609.86 points up at 74,340.09 whereas Nifty closed 207.40 points higher at 22,544.70.
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