ChiniMandi, Mumbai: 20th Feb 2025
Domestic Market
Domestic sugar prices bucked the downtrend
After seven sessions of weak trading, domestic sugar prices were reported to be higher, with prices up by Rs 30-40 per quintal across the centers. Prices in Maharashtra and Karnataka are up by Rs 30 per quintal, while prices in Uttar Pradesh have risen by Rs 40 per quintal. Prices in Maharashtra and Karnataka are rising as more mills close their crushing operations. Demand is reported to be strong, with mill and resale prices remaining stable.
On the export front, ISMA reported that approximately 2.0 lakh tons had been exported and 3.0 lakh tons were contracted. With global prices recovering, exports are expected to increase in the coming months.
Sugar exports are typically priced between Rs 42,000 and 44,000 per MT. Low-quality whites will be comparable up to $472 per MT. S-grade sugar in Kolhapur ranges between Rs 3,710 and 3,770 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 3,970 and 4,020.
Ex-mill Sugar Prices as on Feb, 20 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 |
|
₹3970 to 4030 |
|
Gujarat |
₹3821 |
₹3921 |
|
Tamil Nadu |
₹3940 to 4050 |
₹4000 to 4125 |
|
Madhya Pradesh |
₹4040 to 4060 |
₹4090 to 4120 |
|
Punjab |
₹4050 to 4125 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 20 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,252.50 |
|
Kanpur |
M/30 |
₹4,210.50 |
|
Kolhapur |
M/30 |
₹4,032.00 |
|
Kolkata |
M/30 |
₹4,315.50 |
|
Muzaffarnagar |
M/30 |
₹4,210.50 |
|
Ahmedabad |
M/30 |
₹4,179.00 |
|
Bangaluru |
M/30 |
₹4,189.50 |
|
Chennai |
M/30 |
₹4,299.75 |
At the time of writing this update London White Sugar #5 front month contract is trading at $547.80 ton, whereas the New York Sugar #11 front month contract is trading at 20.81 c/lb. The corn futures market trades at 502-0 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.581 whereas USD was trading with BRL at 5.7081 Crude WTI traded at $72.31 barrel. Sensex closed 203.22 points down at 75,735.96 whereas Nifty closed 19.75 points lower at 22,913.15
News Round-Up
EID Parry may look at the conversion of existing plant into multi-feed grain
EID Parry may look at the conversion of existing plant into multi-feed grain
Karnataka: Minister asks mills to clear cane dues on time or else face action
Karnataka: Minister asks mills to clear cane dues on time or else face action
UP budget: Rs 475 crore for cane payments, Rs 90 crore for distillery, Rs 50 crore for new sugar mill and logistics hub and warehousing complex announced
