ChiniMandi, Mumbai: 21st Jan 2025
Domestic Market
Domestic sugar prices were stable to higher
After a sharp surge in yesterday’s session, domestic sugar prices in major markets have reported steady to higher sentiment in major markets. News of export permission of 1.0 MMT is keeping prices at 14-month high. In an already tightened balance, exports of 1.0 MMT with an expected downside of production will make the balance sheet further tightened.
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 3,960 to 4,020.
Ex-mill Sugar Prices as on Jan, 21 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3680 to 3730 |
|
South Karnataka |
₹3750 to 3800 |
₹3800 to 3850 |
|
Uttar Pradesh |
|
₹3950 to 4010 |
|
Gujarat |
₹3721 to 3811 |
₹3811 to 3851 |
|
Tamil Nadu |
₹3820 to 3960 |
₹3950 |
|
Madhya Pradesh |
₹3800 to 3830 |
₹3870 to 3900 |
|
Punjab |
₹4080 to 4141 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 21 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,221.00 |
|
Kanpur |
M/30 |
₹4,184.25 |
|
Kolhapur |
M/30 |
₹3,874.50 |
|
Kolkata |
M/30 |
₹4,263.00 |
|
Muzaffarnagar |
M/30 |
₹4,179.00 |
|
Ahmedabad |
M/30 |
₹4,042.50 |
|
Bangaluru |
M/30 |
₹4,095.00 |
|
Chennai |
M/30 |
₹4,252.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $467.50 ton, whereas the New York Sugar #11 front month contract is trading at 17.80 c/lb. The corn futures market trades at 485-6 and the ethanol Chicago trades at 1.69500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.604 whereas USD was trading with BRL at 6.0492, Crude WTI traded at $75.61 barrel. Sensex closed 1,235.08 points down at 75,838.36 whereas Nifty closed 320.10 points higher at 23,024.65
News Round-Up
Ensuring safety and health in sugar factories and distilleries: A path to sustainable operations
Ensuring safety and health in sugar factories and distilleries: A path to sustainable operations
India will probably achieve 20% ethanol blending next month: Hardeep Singh Puri
India will probably achieve 20% ethanol blending next month: Hardeep Singh Puri
India and Belgium to strengthen economic ties with focus on trade and emerging sectors
India and Belgium to strengthen economic ties with focus on trade and emerging sectors
