ChiniMandi, Mumbai: 12th Feb 2025
Domestic Market
Domestic sugar prices were stable
Domestic sugar prices in major markets are reported to be stable due to strong demand. Prices are trading at nearly fifteen-year highs on the back of tighter balance sheets on export permission coupled with expected lower production.
Sugar quotes for exports range between Rs 42,000 and Rs 44,000 per MT, with low-quality whites parity up to $475 per MT. Although domestic prices are gradually increasing, the weakening INR ensures export parity.
S-grade sugar in Kolhapur costs between Rs 3,740 and 3,800 per quintal, whereas M-grade sugar in Muzaffarnagar costs between Rs 4,040 and 4,100. Prices are expected to stay high in the coming days.
Ex-mill Sugar Prices as on Feb, 12 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3720 to 3740 |
₹3820 to 3885 |
|
South Karnataka |
₹3850 to 3925 |
₹3950 to 3975 |
|
Uttar Pradesh |
|
₹4050 to 4110 |
|
Gujarat |
₹3821 |
₹3921 |
|
Tamil Nadu |
₹3945 to 4140 |
₹4005 to 4125 |
|
Madhya Pradesh |
₹3980 to 4000 |
₹4020 to 4040 |
|
Punjab |
₹4140 to 4201 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 12 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,336.50 |
|
Kanpur |
M/30 |
₹4,294.50 |
|
Kolhapur |
M/30 |
₹4,063.50 |
|
Kolkata |
M/30 |
₹4,410.00 |
|
Muzaffarnagar |
M/30 |
₹4,294.50 |
|
Ahmedabad |
M/30 |
₹4,231.50 |
|
Bangaluru |
M/30 |
₹4,231.50 |
|
Chennai |
M/30 |
₹4,357.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $546.80 ton, whereas the New York Sugar #11 front month contract is trading at 20.00 c/lb. The corn futures market trades at 484-6 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.915 whereas USD was trading with BRL at 5.7782 Crude WTI traded at $72.55 barrel. Sensex closed 122.52 points down at 76,171.08 whereas Nifty closed 26.55 points lower at 23,045.25
News Round-Up
Season 2024-25: 20 sugar mills end sugarcane crushing operations in Maharashtra
Season 2024-25: 20 sugar mills end sugarcane crushing operations in Maharashtra
