ChiniMandi, Mumbai: 20th Jan 2025
Domestic Market
Domestic sugar prices continue to surge
Domestic sugar prices in major markets have continued to rise and rose by another Rs 60-70 per quintal in today’s session on the news of export permission of 1.0 MMT. In an already tightened balance, exports of 1.0 MMT with an expected downside of production will make the balance sheet further tightened. Prices are expected to increase further in the coming sessions.
However, with the increase in domestic prices and fall in global prices, need to see how much Indian mills can export the out of the allocated quantity. S-grade sugar in Kolhapur is ranging between Rs 3,550 and 3,600 per quintal, whereas M-grade sugar in Muzaffarnagar is trading in the range of Rs 3,860 to 4,020.
Ex-mill Sugar Prices as on Jan, 20 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3680 to 3730 |
|
South Karnataka |
₹3775 to 3800 |
₹3850 |
|
Uttar Pradesh |
|
₹3950 to 4010 |
|
Gujarat |
₹3691 to 3781 |
₹3781 to 3821 |
|
Tamil Nadu |
₹3825 to 3960 |
₹3950 |
|
Madhya Pradesh |
₹3800 to 3830 |
₹3870 to 3900 |
|
Punjab |
₹4060 to 4101 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 20 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,221.00 |
|
Kanpur |
M/30 |
₹4,184.25 |
|
Kolhapur |
M/30 |
₹3,864.00 |
|
Kolkata |
M/30 |
₹4,263.00 |
|
Muzaffarnagar |
M/30 |
₹4,179.00 |
|
Ahmedabad |
M/30 |
₹4,032.00 |
|
Bangaluru |
M/30 |
₹4,084.50 |
|
Chennai |
M/30 |
₹4,242.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $473.20 ton, whereas the New York Sugar #11 front month contract is trading at 18.22c/lb. The corn futures market trades at 484-2 and the ethanol Chicago trades at 1.69500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.551 whereas USD was trading with BRL at 6.0603, Crude WTI traded at $77.26 barrel. Sensex closed 454.11 points up at 77,073.44 whereas Nifty closed 141.55 points higher at 23,344.75
News Round-Up
Government approves 10 lakh tonnes sugar export quota for 2024-25: Union Food Minister Pralhad Joshi
Government approves 10 lakh tonnes sugar export quota for 2024-25: Union Food Minister Pralhad Joshi
Telangana government considering introduction of ethanol policy
Telangana government considering introduction of ethanol policy
