ChiniMandi, Mumbai: 13th Jan 2025
Domestic Market
Domestic sugar prices continue to rise
Domestic sugar prices in major markets have continued to rise due to strong demand. According to market sources, demand is strong, with prices remaining at a one-and-a-half-month high. Prices increased by Rs 10-20 per quintal.
In addition, there are rumours circulating that a decision on increasing MSP will happen soon, which is supporting the sentiment. According to industry sources, even if the MSP increases, it is expected to rise by Rs 4-5 per kg.
S-grade sugar in Kolhapur costs between Rs 3,430 and 3,480 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,860 to 3,920. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,380 and Rs 3,500 per quintal in the near future.
Ex-mill Sugar Prices as on Jan, 13 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3435 to 3505 |
₹3505 to 3605 |
|
South Karnataka |
₹3650 to 3675 |
₹3680 to 3725 |
|
Uttar Pradesh |
|
₹3860 to 3920 |
|
Gujarat |
₹3541 to 3581 |
₹3561 to 3641 |
|
Tamil Nadu |
₹3750 to 3900 |
₹3850 to 3975 |
|
Madhya Pradesh |
₹3660 to 3710 |
₹3740 to 3835 |
|
Punjab |
₹3970 to 4051 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 13 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,116.00 |
|
Kanpur |
M/30 |
₹4,084.50 |
|
Kolhapur |
M/30 |
₹3,748.50 |
|
Kolkata |
M/30 |
₹4,147.50 |
|
Muzaffarnagar |
M/30 |
₹4,079.25 |
|
Ahmedabad |
M/30 |
₹3,916.50 |
|
Bangaluru |
M/30 |
₹3,969.00 |
|
Chennai |
M/30 |
₹4,116.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $497.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.00 c/lb. The corn futures market trades at 474-6 and the ethanol Chicago trades at 1.65750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.691 whereas USD was trading with BRL at 6.0959, Crude WTI traded at $77.07 barrel. Sensex closed 1,048.90 points down at 76,330.01 whereas Nifty closed 345.55 points lower at 23,085.95
News Round-Up
Establishing roadmap post-20% ethanol blending target: Shaping India’s ethanol future
Establishing roadmap post-20% ethanol blending target: Shaping India’s ethanol future
BSF women personnel thwart sugar smuggling attempt at Indo-Bangladesh border; smugglers had sharp-edged weapons
Thailand: OCSB aims to slash burnt sugarcane harvesting to 10 per cent
Thailand: OCSB aims to slash burnt sugarcane harvesting to 10 per cent
