ChiniMandi, Mumbai: 17th Mar 2025
Domestic Market
Domestic sugar prices were stable to higher
Domestic sugar prices were reported stable to higher with prices rising by Rs 10 per quintal in Maharashtra and Karnataka while remaining stable in Uttar Pradesh. According to market participants, demand is low despite the Holi and Ramadan months, following a price increase that began in mid-January and has weighed on prices. As prices rose following export permission, demand is said to be muted at higher price levels.
According to reports, sugar for export is currently selling for around Rs 42,000 per MT, with some contracts priced at Rs 44,000 per MT. The most active contract values London whites at $542 per MT, while low-quality whites are priced between par and $470 per MT. There are rumors that GOI may ban export of sugar due to drastic drop in sugar production.
M-grade sugar in Muzaffarnagar ranges between Rs 4,020 and Rs 4,050 per quintal, whereas S-grade sugar in Kolhapur costs between Rs 3,760 and Rs 3,810.
Ex-mill Sugar Prices as on Mar, 17 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3760 to 3770 |
₹3820 to 3865 |
|
South Karnataka |
₹3950 to 3975 |
₹4000 to 4045 |
|
Uttar Pradesh |
|
₹4020 to 4050 |
|
Gujarat |
₹3871 to 3881 |
₹3971 to 3981 |
|
Tamil Nadu |
₹4000 to 4200 |
₹4060 to 4250 |
|
Madhya Pradesh |
₹4020 to 4040 |
₹4070 to 4090 |
|
Punjab |
₹4040 to 4091 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 17 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,263.00 |
|
Kanpur |
M/30 |
₹4,221.00 |
|
Kolhapur |
M/30 |
₹4,042.50 |
|
Kolkata |
M/30 |
₹4,347.00 |
|
Muzaffarnagar |
M/30 |
₹4,200.00 |
|
Ahmedabad |
M/30 |
₹4,179.00 |
|
Bangaluru |
M/30 |
₹4,252.50 |
|
Chennai |
M/30 |
₹4,357.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $554.20 ton, whereas the New York Sugar #11 front month contract is trading at 19.51c/lb. The corn futures market trades at 445-4 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.831 whereas USD was trading with BRL at 5.7413 Crude WTI traded at $67.80 barrel. Sensex closed 341.04 points higher at 74169.95 whereas Nifty closed 115.55 points higher at 22,508.75.
News Round-Up
ESY 2024-25: Ethanol blending in petrol in February reaches 19.7 per cent
Share of ethanol production from grains may increase beyond 60% in current ESY 2024-25: Minister
Share of ethanol production from grains may increase beyond 60% in current ESY 2024-25: Minister
NFCSF reduces sugar production forecast to 259 lakh tonnes for 2024-25 season
NFCSF reduces sugar production forecast to 259 lakh tonnes for 2024-25 season
