ChiniMandi, Mumbai: 17th Jan 2025
Domestic Market
Domestic sugar prices continue to increase.
Domestic sugar prices in major markets have continued to rise and rose by another Rs 10-20 per quintal in today’s session. In yesterday’s meeting, as per reports the price increase has been deferred by a week. Moreover, there are chances of an increase in ethanol prices. We need to see how much the price of ethanol will increase if the government makes any decision regarding this.
S-grade sugar in Kolhapur costs Rs 3,480 to 3,520 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,895 to 3,960. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,440 and Rs 3,550 per quintal in the near future. If sugar MSP rises, the range may change accordingly.
Ex-mill Sugar Prices as on Jan, 17 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3490 to 3565 |
₹3565 to 3665 |
|
South Karnataka |
₹3680 to 3710 |
₹3730 to 3760 |
|
Uttar Pradesh |
|
₹3895 to 3960 |
|
Gujarat |
₹3651 to 3671 |
₹3751 to 3771 |
|
Tamil Nadu |
₹3775 to 3900 |
₹3850 to 3975 |
|
Madhya Pradesh |
₹3740 to 3770 |
₹3790 to 3820 |
|
Punjab |
₹3990 to 4061 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 17 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,158.00 |
|
Kanpur |
M/30 |
₹4,121.25 |
|
Kolhapur |
M/30 |
₹3,790.50 |
|
Kolkata |
M/30 |
₹4,189.50 |
|
Muzaffarnagar |
M/30 |
₹4,116.00 |
|
Ahmedabad |
M/30 |
₹3,958.50 |
|
Bangaluru |
M/30 |
₹4,011.00 |
|
Chennai |
M/30 |
₹4,168.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $479.10 ton, whereas the New York Sugar #11 front month contract is trading at 18.13c/lb. The corn futures market trades at 475-6 and the ethanol Chicago trades at 1.69500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.587 whereas USD was trading with BRL at 6.0316, Crude WTI traded at $77.96 barrel. Sensex closed 423.49 points down at 76,619.33 whereas Nifty closed 108.60 points lower at 23,203.20
News Round-Up
Nitin Gadkari discusses sustainable aviation fuel, green hydrogen with Singapore President
Nitin Gadkari discusses sustainable aviation fuel, green hydrogen with Singapore President
Harnessing solar power: New opportunity for sugar industry
Minister Jayant Chaudhary writes to Food Minister, urges to allow sugar export and revise sugar MSP
Minister Jayant Chaudhary writes to Food Minister, urges to allow sugar export and revise sugar MSP
