ChiniMandi, Mumbai: 13th Mar 2025
Domestic Market
Domestic sugar prices were reported stable
Despite the ISMA reducing the sugar production to 26.5 MMT and the AISTA to 25.8 MMT, domestic sugar prices were reported stable across the centers on dull demand. As per the market participants, demand is muted despite the Holi and Ramadan month after a price surge from mid-January, which is weighing on the prices.
According to reports, sugar for export is currently selling for approximately Rs 42,000 per MT, and there are some contracts happening around Rs 44,000 per MT as well. The most active contract values London whites at $539 per MT, with low-quality whites priced at par until $470 per MT.
M-grade sugar in Muzaffarnagar ranges between Rs 4,040 and Rs 4,060 per quintal, whereas S-grade sugar in Kolhapur costs between Rs 3,760 and Rs 3,820.
Ex-mill Sugar Prices as on Mar, 13 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3770 to 3780 |
₹3830 to 3875 |
|
South Karnataka |
₹3975 to 4000 |
₹4025 to 4050 |
|
Uttar Pradesh |
|
₹4040 to 4060 |
|
Gujarat |
₹3861 to 3891 |
₹3961 to 3991 |
|
Tamil Nadu |
₹4020 to 4300 |
₹4080 to 4250 |
|
Madhya Pradesh |
₹4020 to 4025 |
₹4060 to 4075 |
|
Punjab |
₹4050 to 4101 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 13 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,284.00 |
|
Kanpur |
M/30 |
₹4,242.00 |
|
Kolhapur |
M/30 |
₹4,042.50 |
|
Kolkata |
M/30 |
₹4,357.50 |
|
Muzaffarnagar |
M/30 |
₹4,221.00 |
|
Ahmedabad |
M/30 |
₹4,179.00 |
|
Bangaluru |
M/30 |
₹4,252.50 |
|
Chennai |
M/30 |
₹4,357.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $539.00 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 87.105 whereas USD was trading with BRL at 5.8262 Crude WTI traded at $67.19 barrel. Sensex closed 200.85 points down at 73,828.91 whereas Nifty closed 73.30 points lower at 22,397.20.
News Round-Up
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India faces challenges regaining the broken rice export market
