ChiniMandi, Mumbai: 26th Mar 2025
Domestic Market
Domestic sugar prices reported slightly higher
After two weak sessions, domestic sugar prices were reported to be higher in the major markets. Prices are reported higher by Rs 5-10 per quintal. Although production is likely to fall to roughly 26 MMT, prices are trading at six week low on dull demand. According to market insiders, demand is low following a dramatic rise in prices following the export announcement. Maharashtra has produced 7.95 MMT of sugar with 18 mills crushing, and the total may be about 8.0 MMT.
According to market sources, sugar for export is currently selling for around Rs 42,000 per MT. The most active contract values London whites at $540 per MT, while low-quality whites will be at parity till $480 per MT, indicating higher due tp stronger INR.
M-grade sugar in Muzaffarnagar ranges between Rs 3,980 and Rs 4,030 per quintal, and S-grade sugar in Kolhapur costs between Rs 3,745 and Rs 3,790.
Ex-mill Sugar Prices as on Mar, 26 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3770 to 3800 |
₹3840 to 3860 |
|
South Karnataka |
₹3950 to 3975 |
₹4000 to 4025 |
|
Uttar Pradesh |
|
₹3980 to 4030 |
|
Gujarat |
₹3841 to 3851 |
₹3941 to 3951 |
|
Tamil Nadu |
₹4000 to 4200 |
₹4150 to 4200 |
|
Madhya Pradesh |
₹4020 to 4030 |
₹4090 to 4100 |
|
Punjab |
₹4060 to 4131 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 26 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,263.00 |
|
Kanpur |
M/30 |
₹4,221.00 |
|
Kolhapur |
M/30 |
₹4,026.75 |
|
Kolkata |
M/30 |
₹4,336.50 |
|
Muzaffarnagar |
M/30 |
₹4,189.50 |
|
Ahmedabad |
M/30 |
₹4,147.50 |
|
Bangaluru |
M/30 |
₹4,242.00 |
|
Chennai |
M/30 |
₹4,357.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $540.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.30c/lb. The corn futures market trades at 458-6 and the ethanol Chicago trades at 1.71000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.649 whereas USD was trading with BRL at 5.6986 Crude WTI traded at $69.58 barrel. Sensex closed 728.69 points lower at 77288.50 whereas Nifty closed 181.30 points lower at 23486.85
News Round-Up
Sugarcane crushing season nears end in Maharashtra with 186 mills concluding operations
Sugarcane crushing season nears end in Maharashtra with 186 mills concluding operations
Maharashtra: Farmer leader Raju Shetti threatens protests if sugar mills don’t comply with one-time payment order
Gujarat Ambuja Exports begins commercial production at its Greenfield 1200 TPD Maize Processing Unit in Uttarakhand
