ChiniMandi, Mumbai: 21st Feb 2025
Domestic Market
Domestic sugar prices continue to trade higher
After seven sessions of weak trading, domestic sugar prices were reported to be higher for the second, with prices up by Rs 20-30 per quintal across the centers. Prices in Maharashtra and Karnataka have risen by Rs 20 per quintal, and in Uttar Pradesh prices have increased by Rs 30 per quintal. Good demand after the recent price fall is supporting the prices in spot markets.
As per the update from the Maharashtra Sugar Commissioner, Maharashtra mills have produced 7.1 MMT with crushing 76.4 MMT of cane. As per the update, around 38 mills are closed operations out of 200 mills operational.
Sugar exports are typically priced between Rs 42,000 and 44,000 per MT. Low-quality whites will be parity till $475 per MT, and London whites of the most active contract is quoting at $534 per MT. S-grade sugar in Kolhapur ranges between Rs 3,730 and 3,800 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 4,000 and 4,050.
Ex-mill Sugar Prices as on Feb, 21 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3750 to 3760 |
₹3810 to 3870 |
|
South Karnataka |
₹3900 to 3950 |
₹3950 to 4000 |
|
Uttar Pradesh |
|
₹3990 to 4050 |
|
Gujarat |
₹3821 |
₹3921 |
|
Tamil Nadu |
₹4000 to 4050 |
₹4125 |
|
Madhya Pradesh |
₹4060 to 4080 |
₹4110 to 4140 |
|
Punjab |
₹4050 to 4121 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 21 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,273.50 |
|
Kanpur |
M/30 |
₹4,231.50 |
|
Kolhapur |
M/30 |
₹4,053.00 |
|
Kolkata |
M/30 |
₹4,336.50 |
|
Muzaffarnagar |
M/30 |
₹4,226.25 |
|
Ahmedabad |
M/30 |
₹4,189.50 |
|
Bangaluru |
M/30 |
₹4,210.50 |
|
Chennai |
M/30 |
₹4,326.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $554.70 ton, whereas the New York Sugar #11 front month contract is trading at 21.08c/lb. The corn futures market trades at 497-6 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.604 whereas USD was trading with BRL at 5.7013 Crude WTI traded at $71.88 barrel. Sensex closed 424.90 points down at 75,311.06 whereas Nifty closed 117.25 points lower at 22,795.90
News Round-Up
Season 2024-25: 38 sugar mills end crushing operations in Maharashtra
Season 2024-25: 38 sugar mills end crushing operations in Maharashtra
“Biofuel Scheme-2025” to boost state’s economic prosperity, job creation: Madhya Pradesh CM
“Biofuel Scheme-2025” to boost state’s economic prosperity, job creation: Madhya Pradesh CM
Government steps up monitoring of essential goods prices ahead of festive season, key meeting expected next week: Media report
