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
