ChiniMandi, Mumbai: 22nd Jan 2025
Domestic Market
Steady sentiment witnessed in domestic sugar prices
Domestic sugar prices in major markets have remained stable after a sharp increase in the previous session. Prices remain at a 14-month high following news of 1.0 MMT export permission. Exports of 1.0 MMT, combined with an expected decline in production, will tighten the balance sheet even further.
S-grade sugar in Kolhapur is priced between Rs 3,550 and 3,600 per quintal, while M-grade sugar in Muzaffarnagar ranges from Rs 3,960 to 4,020.
Ex-mill Sugar Prices as on Jan, 22 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3630 |
₹3630 to 3680 |
|
South Karnataka |
₹3750 to 3800 |
₹3800 to 3850 |
|
Uttar Pradesh |
|
₹3950 to 4010 |
|
Gujarat |
₹3741 to 3831 |
₹3831 to 3871 |
|
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, 22 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 $473.90 ton, whereas the New York Sugar #11 front month contract is trading at 17.99 c/lb. The corn futures market trades at 488-2 and the ethanol Chicago trades at 1.69500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.407 whereas USD was trading with BRL at 6.0434, Crude WTI traded at $75.88 barrel. Sensex closed 566.63 points up at 76,404.99 whereas Nifty closed 130.70 points higher at 23,155.35
News Round-Up
Season 2024-25: Sugar production in Maharashtra reaches 47.50 lakh tonnes
Season 2024-25: Sugar production in Maharashtra reaches 47.50 lakh tonnes
Reliance Industries to invest in ICAR project for development of grass species varieties for biogas production
Government increases raw jute MSP for marketing season 2025-26
Government increases raw jute MSP for marketing season 2025-26
