ChiniMandi, Mumbai: 03rd Mar 2025
Domestic Market
Domestic sugar prices were stable to higher
Domestic sugar prices in Karnataka and Maharashtra remained stable, while resale prices in Uttar Pradesh fell by Rs 10 per quintal. However, ex-mill prices did not show a weak sentiment; only resale quotes were lower. According to market sources, demand is reported to be subdued, weighing on resale prices. As sugar production declines, ex-mill prices remain firm.
According to the most recent update, 82 mills in Maharashtra have ended their operations. These mills are located in the Kolhapur, Solapur, Nanded, Pune, Chhatrapati Sambhajinagar, and Ahilyanagar regions.
According to reports, sugar for export is selling for around Rs 44,000 per MT as prices rise at a reasonable contract rate. London whites in the most active contract are quoted at $539 per MT, while low-quality whites will be priced at par until $475 per MT. M-grade sugar in Muzaffarnagar costs between Rs 4,060 and Rs 4,120 per quintal, whereas S-grade sugar in Kolhapur costs between Rs 3,770 and Rs 3,840.
Ex-mill Sugar Prices as on Mar, 03 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3755 to 3765 |
₹3815 to 3875 |
|
South Karnataka |
₹3930 to 4000 |
₹3950 to 4050 |
|
Uttar Pradesh |
|
₹4050 to 4110 |
|
Gujarat |
₹3891 to 3921 |
₹3991 to 4021 |
|
Tamil Nadu |
₹4075 to 4300 |
₹4135 to 4250 |
|
Madhya Pradesh |
₹4065 to 4085 |
₹4135 to 4155 |
|
Punjab |
₹4130 to 4181 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 03 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,347.00 |
|
Kanpur |
M/30 |
₹4,294.50 |
|
Kolhapur |
M/30 |
₹4,095.00 |
|
Kolkata |
M/30 |
₹4,410.00 |
|
Muzaffarnagar |
M/30 |
₹4,289.25 |
|
Ahmedabad |
M/30 |
₹4,210.50 |
|
Bangaluru |
M/30 |
₹4,263.00 |
|
Chennai |
M/30 |
₹4,378.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $527.80 ton, whereas the New York Sugar #11 front month contract is trading at 19.51c/lb. The corn futures market trades at 450-0 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.305 whereas USD was trading with BRL at 5.8482 Crude WTI traded at $69.40 barrel. Sensex closed 112.16 points down at 73,085.94 whereas Nifty closed 5.40 points lower at 22,119.30
News Round-Up
Season 2024-25: 82 sugar mills conclude crushing operations in Maharashtra
Season 2024-25: 82 sugar mills conclude crushing operations in Maharashtra
Ethanol boost: E100 fuel now available at 400 plus outlets nationwide
Ethanol boost: E100 fuel now available at 400 plus outlets nationwide
Malaysia: Govt departments, agencies in Perak urged to cut sugar usage by 50% in food served at meetings and event
