ChiniMandi, Mumbai: 24th Jan 2025
Domestic Market
Weak sentiment continued in domestic sugar prices
After a sharp rise,domestic sugar prices in major markets have reported lower by Rs 10 per quintal across the major markets. Prices fell by Rs 10 per quintal in Maharashtra, Karnataka and Uttar Pradesh.
There are reports of few export contracts in the range of Rs 3,900-4,000 per quintal.
S-grade sugar in Kolhapur is priced between Rs 3,530 and 3,580 per quintal, while M-grade sugar in Muzaffarnagar ranges from Rs 3,930 to 3,990.
Ex-mill Sugar Prices as on Jan, 24 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3560 to 3610 |
₹3610 to 3660 |
|
South Karnataka |
₹3775 to 3800 |
₹3800 to 3850 |
|
Uttar Pradesh |
|
₹3930 to 3990 |
|
Gujarat |
₹3721 to 3811 |
₹3811 to 3851 |
|
Tamil Nadu |
₹3830 to 3960 |
₹3950 |
|
Madhya Pradesh |
₹3780 to 3810 |
₹3850 to 3880 |
|
Punjab |
₹4060 to 4121 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 24 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,200.00 |
|
Kanpur |
M/30 |
₹4,163.25 |
|
Kolhapur |
M/30 |
₹3,853.50 |
|
Kolkata |
M/30 |
₹4,242.00 |
|
Muzaffarnagar |
M/30 |
₹4,158.00 |
|
Ahmedabad |
M/30 |
₹4,021.50 |
|
Bangaluru |
M/30 |
₹4,074.00 |
|
Chennai |
M/30 |
₹4,231.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $498.20 ton, whereas the New York Sugar #11 front month contract is trading at 19.08 c/lb. The corn futures market trades at 484-2 and the ethanol Chicago trades at 1.67500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.215 whereas USD was trading with BRL at 5.9393 Crude WTI traded at $75.09 barrel. Sensex closed 329.92 points down at 76,190.46 whereas Nifty closed 113.15 points lower at 23,092.20
News Round-Up
India’s net sugar production in 2024-2025 season expected to decline by 4.6 MMT – AgriMandi.live Research
Government’s Tax collections to stay strong in FY26, net tax revenue estimated at Rs 28.2 trillion: Report
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Andhra Pradesh: Universal Biofuels biodiesel plant temporarily halts production
