ChiniMandi, Mumbai: 10th Mar 2025
Domestic Market
Steady to weak sentiment reported in domestic sugar prices
Domestic sugar prices in the major markets of Karnataka and Maharashtra were reported to be relatively stable, while prices in Uttar Pradesh continued to fall due to weak demand. Prices fell by Rs 10 per quintal as domestic stocks in Uttar Pradesh increased as a result of the quota swap with exporters. Prices have been steadily falling for the past 4-5 sessions due to low demand. Prices fell in both resale and ex-mill quotes, indicating low demand. According to market sources, demand is expected to be weak, putting pressure on resale prices.
According to reports, sugar for export is currently selling for around Rs 44,000 per MT, with prices rising at a reasonable contract rate. The most active contract quotes London whites at $525 per MT, while low-quality whites are priced at par until $470 per MT. M-grade sugar in Muzaffarnagar ranges from Rs 3,980 to Rs 4,040 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,750 and Rs 3,810.
Ex-mill Sugar Prices as on Mar, 10 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3770 to 3780 |
₹3830 to 3875 |
|
South Karnataka |
₹3975 to 4000 |
₹4025 to 4075 |
|
Uttar Pradesh |
|
₹3980 to 4040 |
|
Gujarat |
₹3851 to 3881 |
₹3951 to 3981 |
|
Tamil Nadu |
₹4050 to 4200 |
₹4110 to 4250 |
|
Madhya Pradesh |
₹4020 to 4025 |
₹4060 to 4075 |
|
Punjab |
₹4080 to 4121 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 10 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,263.00 |
|
Kanpur |
M/30 |
₹4,210.50 |
|
Kolhapur |
M/30 |
₹4,042.50 |
|
Kolkata |
M/30 |
₹4,357.50 |
|
Muzaffarnagar |
M/30 |
₹4,200.00 |
|
Ahmedabad |
M/30 |
₹4,179.00 |
|
Bangaluru |
M/30 |
₹4,242.00 |
|
Chennai |
M/30 |
₹4,347.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $533.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.51c/lb. The corn futures market trades at 455-2 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.402 whereas USD was trading with BRL at 5.7682 Crude WTI traded at $67.41 barrel. Sensex closed 217.41points down at 74,115.17 whereas Nifty closed 92.20 points higher at 22,460.30.
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