ChiniMandi, Mumbai: 24th Mar 2025
Domestic Market
Weak sentiment continued in domestic sugar prices
Domestic sugar prices reported to be lower across the major markets due to dull demand. Prices further fell by Rs 10-20 per quintal across the major markets. Although the production is lowering prices are reporting lower on subdued demand. According to market participants, demand is low despite after a sharp increase in prices. Maharashtra has prioduced 7.95 MMT of sugar with 18 mills crushing and may conclude around 8.0 MMT.
According to reports, sugar for export is currently selling for approximately Rs 42,000 per MT, with some contracts priced at Rs 44,000 per MT. The most active contract values London whites at $550 per MT, while low-quality whites range between par and $460 per MT.
M-grade sugar in Muzaffarnagar ranges from Rs 3,980 to Rs 4,030 per quintal, while S-grade sugar in Kolhapur costs between Rs 3,740 and Rs 3,790.
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $546.00 ton, whereas the New York Sugar #11 front month contract is trading at 19.45c/lb. The corn futures market trades at 460-6 and the ethanol Chicago trades at 1.71750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.619 whereas USD was trading with BRL at 5.7235 Crude WTI traded at $68.77 barrel. Sensex closed 1078.87 points higher at 77984.38 whereas Nifty closed 307.95 points higher at 23658.35
Ex-mill Sugar Prices as on Mar, 24 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3770 to 3800 |
₹3840 to 3860 |
|
South Karnataka |
₹3950 to 3975 |
₹4000 to 4025 |
|
Uttar Pradesh |
|
₹3980 to 4030 |
|
Gujarat |
₹3841 to 3851 |
₹3941 to 3951 |
|
Tamil Nadu |
₹4000 to 4100 |
₹4160 to 4150 |
|
Madhya Pradesh |
₹4020 to 4030 |
₹4090 to 4100 |
|
Punjab |
₹4090 to 4121 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 24 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,252.50 |
|
Kanpur |
M/30 |
₹4,210.50 |
|
Kolhapur |
M/30 |
₹4,021.50 |
|
Kolkata |
M/30 |
₹4,326.00 |
|
Muzaffarnagar |
M/30 |
₹4,179.00 |
|
Ahmedabad |
M/30 |
₹4,137.00 |
|
Bangaluru |
M/30 |
₹4,231.50 |
|
Chennai |
M/30 |
₹4,347.00 |
News Round-Up
Use of Indian raw materials, fruits, and sugar makes us very price competitive in the world market: Rasna’s Chairman
Season 2024-25: Crushing operations ongoing in 18 mills in Maharashtra; sugar production at 79.74 lakh tonnes
