ChiniMandi, Mumbai: 18th Feb 2025
Domestic Market
Mixed trend witnessed in domestic sugar prices
Sugar prices were reported to be mixed, with prices rising in Maharashtra and Karnataka and falling in Uttar Pradesh. Prices in Maharashtra and Karnataka were reported higher by Rs 10 per quintal, while fell by Rs 20 per quintal in Uttar Pradesh. As more mills are closing the crushing prices are being supported in Maharashtra and Karnataka.
On the export front, ISMA updated that around 2.0 lakh tons has been exported and around 3.0 lakh tons have been contracted. With the recovery in global prices exports are likely to gain a pace in the coming months.
Sugar exports are typically priced between Rs 42,000 and 44,000 per MT. And low-quality whites will be in parity up to $468 per MT. S-grade sugar in Kolhapur ranges between Rs 3,680 and 3,740 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 3,930 and 3,980.
Ex-mill Sugar Prices as on Feb, 18 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3690 to 3710 |
₹3790 to 3855 |
|
South Karnataka |
₹3890 to 3900 |
₹3940 to 3950 |
|
Uttar Pradesh |
|
₹3930 to 3990 |
|
Gujarat |
₹3841 |
₹3941 |
|
Tamil Nadu |
₹3940 to 4050 |
₹4000 to 4125 |
|
Madhya Pradesh |
₹4010 to 4030 |
₹4060 to 4090 |
|
Punjab |
₹4050 to 4101 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 18 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,210.50 |
|
Kanpur |
M/30 |
₹4,168.50 |
|
Kolhapur |
M/30 |
₹4,000.50 |
|
Kolkata |
M/30 |
₹4,273.50 |
|
Muzaffarnagar |
M/30 |
₹4,168.50 |
|
Ahmedabad |
M/30 |
₹4,147.50 |
|
Bangaluru |
M/30 |
₹4,158.00 |
|
Chennai |
M/30 |
₹4,257.75 |
At the time of writing this update London White Sugar #5 front month contract is trading at $541.90 ton, whereas the New York Sugar #11 front month contract is trading at 20.59 c/lb. The corn futures market trades at 498-0 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.920 whereas USD was trading with BRL at 5.7099 Crude WTI traded at $71.34 barrel. Sensex closed 29.47 points down at 75,967.39 whereas Nifty closed 14.20 points lower at 22,945.30
News Round-Up
Part II of first reallocation of export quota for export during sugar season 2024-25
Part II of first reallocation of export quota for export during sugar season 2024-25
2024-25 season: Sugarcane prices to remain unchanged in Uttar Pradesh
2024-25 season: Sugarcane prices to remain unchanged in Uttar Pradesh
