ChiniMandi, Mumbai: 1st April 2025
Domestic Market
Domestic sugar prices rose in the evening hours; Mills produced 24.85 MMT
Domestic sugar prices reportedly increased by Rs 10–20 per quintal in the evening after trading largely steadily. According to market participants, demand is good because there is a lower quota this month and summer is peaking.
Due to lower sugar production in the major producing states, Indian mills have produced 24.85 MMT till March 31, a 17.9% year-over-year decrease, according to NFCSF. According to the update, 113 mills are currently in operation, compared to 204 mills the previous year. With only 6 mills running, Maharashtra has nearly finished the season with 81 LMT. In the main season, Karnataka produced around 4.0 MMT, and in August, the special season will begin. 65 mills in Uttar Pradesh ended the operations and sugar production is at around 8.8 MMT. According to the update, cane plant yields and recovery have improved dramatically over the past two weeks, which could result in crushing through the end of April.
Market sources indicate that sugar for export is currently selling for about Rs 42,000 per MT; exporters have seen a drop in realization as a result of the stronger INR. Approximately 7.0 lakh tons have shrunk, according to market sources. Low-quality whites will stay at parity until $480 per MT, indicating higher due to a stronger INR, while London whites are valued at $535 per MT in the most active contract.
S-grade sugar in Kolhapur ranges in price from Rs 3,770 to Rs 3,830 per quintal, whereas M-grade sugar in Muzaffarnagar costs between Rs 4,000 and Rs 4,060.
Ex-mill Sugar Prices as on April, 01 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3790 to 3820 |
₹3860 to 3880 |
|
South Karnataka |
₹4000 |
₹4050 |
|
Uttar Pradesh |
|
₹4000 to 4060 |
|
Gujarat |
₹3851 to 3881 |
₹3951 to 3981 |
|
Tamil Nadu |
₹4030 to 4200 |
₹4110 to 4200 |
|
Madhya Pradesh |
₹4005 to 4025 |
₹4075 to 4095 |
|
Punjab |
₹4120 to 4151 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 01 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,294.50 |
|
Kanpur |
M/30 |
₹4,263.00 |
|
Kolhapur |
M/30 |
₹4,074.00 |
|
Kolkata |
M/30 |
₹4,368.00 |
|
Muzaffarnagar |
M/30 |
₹4,231.50 |
|
Ahmedabad |
M/30 |
₹4,179.00 |
|
Bangaluru |
M/30 |
₹4,263.00 |
|
Chennai |
M/30 |
₹4,378.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $541.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.00c/lb. The corn futures market trades at 462-0 and the ethanol Chicago trades at 1.70220s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.634whereas USD was trading with BRL at 5.7416 Crude WTI traded at $71.44 barrel. Sensex closed 1390.41 points down at 76024.51 whereas Nifty closed 353.65 points lower at 23165.70
News Round-Up
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Ethanol boost: India Glycols Limited adds 200 KLPD capacity
