ChiniMandi, Mumbai: 23rd Jan 2025
Domestic Market
Weak sentiment witnessed in domestic sugar prices
After a sharp rise,domestic sugar prices in major markets have reported lower by Rs 10-20 per quintal across the major markets. Prices fell by Rs 10 per quintal in Maharashtra and by Rs 20 per quintal in Uttar Pradesh. As prices are trading at 14 month high, due to export permission by Indian government of 1.0 MMT which has fuelled the price rally. After a sharp rise and fall in global prices parity has impacted.
S-grade sugar in Kolhapur is priced between Rs 3,540 and 3,590 per quintal, while M-grade sugar in Muzaffarnagar ranges from Rs 3,940 to 4,000.
Ex-mill Sugar Prices as on Jan, 23 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3580 to 3630 |
₹3630 to 3680 |
|
South Karnataka |
₹3775 to 3800 |
₹3820 to 3850 |
|
Uttar Pradesh |
|
₹3940 to 4000 |
|
Gujarat |
₹3741 to 3831 |
₹3831 to 3871 |
|
Tamil Nadu |
₹3820 to 3960 |
₹3950 |
|
Madhya Pradesh |
₹3790 to 3820 |
₹3860 to 3890 |
|
Punjab |
₹4070 to 4131 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 23 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,210.50 |
|
Kanpur |
M/30 |
₹4,173.75 |
|
Kolhapur |
M/30 |
₹3,864.00 |
|
Kolkata |
M/30 |
₹4,252.50 |
|
Muzaffarnagar |
M/30 |
₹4,168.50 |
|
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 $486.40 ton, whereas the New York Sugar #11 front month contract is trading at 18.54 c/lb. The corn futures market trades at 484-4 and the ethanol Chicago trades at 1.69500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.425 whereas USD was trading with BRL at 5.9668, Crude WTI traded at $75.81 barrel. Sensex closed 115.39 points up at 76,520.38 whereas Nifty closed 50.00 points higher at 23,205.35
News Round-Up
Sugar industry optimistic that Budget 2025 will address key challenges and pave way for sustainable growth: Tarun Sawhney
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H2Earth plans to set up silicon, green hydrogen-ammonia plants in India, says Director Kapil Agarwal
H2Earth plans to set up silicon, green hydrogen-ammonia plants in India, says Director Kapil Agarwal
