ChiniMandi, Mumbai: 13th Feb 2025
Domestic Market
Domestic sugar prices continue to fall again
After a stable session yesterday, domestic sugar prices in major markets appear to be weak. Prices have fallen by Rs 20-30 per quintal, with Karnataka and Maharashtra down by Rs 20 and Uttar Pradesh by Rs 30. Dull demand at higher prices is weighing on the prices. Rates of the resale was reported lower but mills quotes are not decreased.
Sugar exports typically range between Rs 42,000-44,000 per MT, with low-quality whites fetching 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 3,720 and 3,780 per quintal, whereas M-grade sugar in Muzaffarnagar costs between Rs 4,010 and 4,070. Prices are expected to stay high in the coming days.
Ex-mill Sugar Prices as on Feb, 13 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 |
|
₹4020 to 4080 |
|
Gujarat |
₹3841 |
₹3941 |
|
Tamil Nadu |
₹3945 to 4140 |
₹4005 to 4125 |
|
Madhya Pradesh |
₹3960 to 3980 |
₹4000 to 4020 |
|
Punjab |
₹4120 to 4181 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 13 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,305.00 |
|
Kanpur |
M/30 |
₹4,263.00 |
|
Kolhapur |
M/30 |
₹4,042.50 |
|
Kolkata |
M/30 |
₹4,378.50 |
|
Muzaffarnagar |
M/30 |
₹4,263.00 |
|
Ahmedabad |
M/30 |
₹4,210.50 |
|
Bangaluru |
M/30 |
₹4,210.50 |
|
Chennai |
M/30 |
₹4,326.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $522.40 ton, whereas the New York Sugar #11 front month contract is trading at 19.92 c/lb. The corn futures market trades at 487-6 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 87.005 whereas USD was trading with BRL at 5.7705 Crude WTI traded at $70.46 barrel. Sensex closed 32.11 points down at 76,138.97 whereas Nifty closed 13.85 points lower at 23,031.40
News Round-Up
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Govt striving to make Himachal Pradesh first ‘Green Energy’ state in India: Chief Minister
Govt striving to make Himachal Pradesh first ‘Green Energy’ state in India: Chief Minister
Cristal Union registers increase in sugar production for 2024-25 season
Cristal Union registers increase in sugar production for 2024-25 season
