ChiniMandi, Mumbai: 19th Feb 2025
Domestic Market
Domestic sugar prices were reported stable
Sugar prices were reported to be stable, with prices reported steady across the centers. Prices in Maharashtra and Karnataka are being supported as more mills close their crushing facilities. Demand is reported to be good, with quotes of mills and resale are reported to be stable.
On the export front, ISMA reported that approximately 2.0 lakh tons have been exported and 3.0 lakh tons have been contracted. With global prices recovering, exports are expected to accelerate in the coming months.
Sugar exports typically cost between Rs 42,000 and 44,000 per MT. Low-quality whites will be at parity up to $468 per MT. S-grade sugar in Kolhapur costs between Rs 3,680 and 3,740 per quintal, whereas M-grade sugar in Muzaffarnagar costs between Rs 3,930 and 3,980.
Ex-mill Sugar Prices as on Feb, 19 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3705 to 3725 |
₹3805 to 3870 |
|
South Karnataka |
₹3890 to 3900 |
₹3940 to 3950 |
|
Uttar Pradesh |
|
₹3930 to 3990 |
|
Gujarat |
₹3821 |
₹3921 |
|
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, 19 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 $545.40 ton, whereas the New York Sugar #11 front month contract is trading at 20.67 c/lb. The corn futures market trades at 504-0 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.852 whereas USD was trading with BRL at 5.6973 Crude WTI traded at $72.42 barrel. Sensex closed 28.21 points down at 75,939.18 whereas Nifty closed 12.40 points lower at 22,932.90
News Round-Up
Hedgepoint: Sugar market trends in the short and long term
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BCL Industries bags tender to supply ethanol worth Rs 134.87 crore to OMCs
