ChiniMandi, Mumbai: 06th Jan 2025
Domestic Market
Domestic prices were stable to weak
Following a sharp increase, domestic sugar prices in major markets were reported to be stable to weak. Prices fell by Rs 10 per quintal in Uttar Pradesh and North Indian mills, while prices remained stable in Maharashtra and Karnataka. Demand is said to be average, and prices are expected to remain under pressure as the crushing season approaches its peak.
S-grade sugar in Kolhapur costs between Rs 3,410 and 3,450 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,790 to 3,850. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,300 and Rs 3,480 per quintal in the near future.
Ex-mill Sugar Prices as on Jan, 06 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3430 to 3500 |
₹3500 to 3600 |
|
South Karnataka |
₹3625 to 3650 |
₹3640 to 3700 |
|
Uttar Pradesh |
|
₹3820 to 3880 |
|
Gujarat |
₹3541 to 3581 |
₹3561 to 3641 |
|
Tamil Nadu |
₹3750 to 3950 |
₹3810 to 3975 |
|
Madhya Pradesh |
₹3615 to 3665 |
₹3685 to 3765 |
|
Punjab |
₹3951 to 3971 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 06 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,074.00 |
|
Kanpur |
M/30 |
₹4,042.50 |
|
Kolhapur |
M/30 |
₹3,717.00 |
|
Kolkata |
M/30 |
₹4,095.00 |
|
Muzaffarnagar |
M/30 |
₹4,037.25 |
|
Ahmedabad |
M/30 |
₹3,885.00 |
|
Bangaluru |
M/30 |
₹3,937.50 |
|
Chennai |
M/30 |
₹4,063.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $515.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.70 c/lb. The corn futures market trades at 456-0 and the ethanol Chicago trades at 1.65000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.672 whereas USD was trading with BRL at 6.1557, Crude WTI traded at $74.41 barrel. Sensex closed 1,258.12 points down at 77,964.99 whereas Nifty closed 388.70 points higher at 23,616.05
News Round-Up
On sugar MSP, we will decide soon whether to increase it or not: Food Minister Pralhad Joshi
On sugar MSP, we will decide soon whether to increase it or not: Food Minister Pralhad Joshi
Empowering growth: NCDC’s interest rate reduction fuels sustainability for cooperative sugar factories
