ChiniMandi, Mumbai: 21st Mar 2025
Domestic Market
Weak sentiment witnessed in domestic sugar prices
Domestic sugar prices reported to be lower across the major markets due to dull demand. Although the production is lowering prices are reporting lower on subdued demand. According to market participants, demand is low despite after a sharp increase in prices.
According to reports, sugar for export is currently selling for approximately Rs 42,000 per MT, with some contracts priced at Rs 44,000 per MT. The most active contract values London whites at $563 per MT, while low-quality whites range between par and $470 per MT.
M-grade sugar in Muzaffarnagar ranges from Rs 4,010 to Rs 4,040 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,750 and Rs 3,800.
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $559.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.87c/lb. The corn futures market trades at 469-0 and the ethanol Chicago trades at 1.72250s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.006 whereas USD was trading with BRL at 5.6622 Crude WTI traded at $67.82 barrel. Sensex closed 557.45 points higher at 76905.51 whereas Nifty closed 159.75 points higher at 23350.40
Ex-mill Sugar Prices as on Mar, 21 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3760 to 3800 |
₹3840 to 3880 |
|
South Karnataka |
₹3925 to 3950 |
₹3975 to 4000 |
|
Uttar Pradesh |
|
₹4010 to 4040 |
|
Gujarat |
₹3861 to 3861 |
₹3961 to 3961 |
|
Tamil Nadu |
₹3980 to 4200 |
₹4040 to 4200 |
|
Madhya Pradesh |
₹4020 to 4040 |
₹4070 to 4100 |
|
Punjab |
₹4090 to 4131 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 21 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,263.00 |
|
Kanpur |
M/30 |
₹4,221.00 |
|
Kolhapur |
M/30 |
₹4,032.00 |
|
Kolkata |
M/30 |
₹4,336.50 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
|
Ahmedabad |
M/30 |
₹4,158.00 |
|
Bangaluru |
M/30 |
₹4,242.00 |
|
Chennai |
M/30 |
₹4,357.00 |
News Round-Up
Ground reality paints more reassuring picture: Tarun Sawhney on India’s sugar production
Ground reality paints more reassuring picture: Tarun Sawhney on India’s sugar production
India faces limited impact from US trade policies, but risks remain: UBI Report
India faces limited impact from US trade policies, but risks remain: UBI Report
