Daily Sugar Market Update By Vizzie – 18/03/2025

ChiniMandi, Mumbai: 18th Mar 2025

Domestic Market

Domestic sugar prices were mostly stable

Domestic sugar prices remained stable in the major markets of Maharashtra, Karnataka, and Uttar Pradesh. According to market participants, demand is low despite the Holi and Ramadan holidays, as a price increase that began in mid-January has weighed on prices. Prices rose following export permission, but demand is said to be muted at higher prices despite the sharp drop in production.

According to reports, sugar for export is currently selling for approximately Rs 42,000 per MT, with some contracts priced at Rs 44,000 per MT. The most active contract values London whites at $560 per MT, while low-quality whites range between par and $470 per MT.

M-grade sugar in Muzaffarnagar ranges from Rs 4,020 to Rs 4,050 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,760 and Rs 3,810.

International Market

At the time of writing this update London White Sugar #5 front month contract is trading at $564.20 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 86.612 whereas USD was trading with BRL at 5.7076 Crude WTI traded at $68.52 barrel. Sensex closed 1131.31 points higher at 75301.26 whereas Nifty closed 325.55 points higher at 22834.30

Ex-mill Sugar Prices as on  Mar, 18 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

₹4175 to 4250

Madhya Pradesh

₹4020 to 4040

₹4070 to 4090

Punjab

₹4080 to 4121

(All the above rates are excluding GST)

Destination-wise Spot Prices as on Mar, 18 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

News Round-Up

Sugar stocks surge up to 20% amid reports of lower sugar production

Sugar stocks surge up to 20% amid reports of lower sugar production

Brazil plans to increase ethanol blend in gasoline to support local industry

Brazil plans to increase ethanol blend in gasoline to support local industry

Bihar: Relocation of maize research institute regional station to Karnataka opposed

Bihar: Relocation of maize research institute regional station to Karnataka opposed

 

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