ChiniMandi, Mumbai: 29th April 2025
Domestic Market
Sugar prices were reported stable
After a rise in yesterday’s session, domestic sugar prices were reported stable. Demand is said to be good but dull buying is weighing on the prices. According to the Food Ministry, the quota for the month of may was reported at 23.5 lakh tons, down 3.5 lakh tons from the previous year and consistent with the previous month. Additionally, the government extended the March 2024 quota until April 10.
According to market experts, the market is likely to be in high demand during the summer months. Last May, sugar consumption totaled 26.10 lakh tonnes. Given this, market sentiment is likely to remain bullish.
On the export front, parity has turned negative due to the recent drop in global prices and the stronger INR. However, because most of the quantities are contracted at or above $520 per MT, the majority of the sugar is expected to ship by mid-June, before the monsoon season begins in Maharashtra.
S-grade sugar costs between Rs 3,750 and Rs 3,810 per quintal in Kolhapur, while M-grade sugar ranges between Rs 3,990 and Rs 4,100 in Muzaffarnagar.
Ex-mill Sugar Prices as on April, 29 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3790 to 3810 |
₹3860 to 3880 |
|
South Karnataka |
₹4050 |
₹4100 |
|
Uttar Pradesh |
|
₹3990 to 4100 |
|
Gujarat |
₹3861 to 3891 |
₹3951 to 3981 |
|
Tamil Nadu |
₹4150 to 4200 |
₹4200 |
|
Madhya Pradesh |
₹3950 to 3970 |
₹4020 to 4040 |
|
Punjab |
₹4090 to 4251 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 29 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,305.00 |
|
Kanpur |
M/30 |
₹4,284.00 |
|
Kolhapur |
M/30 |
₹4,058.25 |
|
Kolkata |
M/30 |
₹4,336.50 |
|
Muzaffarnagar |
M/30 |
₹4,252.50 |
|
Ahmedabad |
M/30 |
₹4,126.50 |
|
Bangaluru |
M/30 |
₹4,263.00 |
|
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 $500.40 ton, whereas the New York Sugar #11 front month contract is trading at 17.78 c/lb. The corn futures market trades at 475-4 and the ethanol Chicago trades at 1.77250s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.187 whereas USD was trading with BRL at 5.6675 Crude WTI traded at $61.07 barrel. Sensex closed 70.01 points up at 80288.38 whereas Nifty closed 7.45 points higher at 24335.95
News Round-Up
Andhra Pradesh: Anakapalle’s jaggery industry struggles as sugarcane cultivation declines
Andhra Pradesh: Anakapalle’s jaggery industry struggles as sugarcane cultivation declines
Praj Industries and thyssenkrupp Uhde join forces to revolutionize polylactic acid production and circular economy
India, US hold talks on multi-sector Bilateral Trade Agreement
India, US hold talks on multi-sector Bilateral Trade Agreement
