ChiniMandi, Mumbai: 27th Jan 2025
Domestic Market
Steady sentiment continued in domestic sugar prices
Domestic sugar prices in major markets have held steady for the second session after rising sharply in the previous two weeks. According to market sources, export contracts are being executed, and we are currently at parity for LQW up to $465 per MT.
However, with domestic prices rising and global prices falling, it is unclear how much more Indian mills can export than the allocated quantity. S-grade sugar in Kolhapur costs 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, 27 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3600 to 3650 |
₹3650 to 3700 |
|
South Karnataka |
₹3750 to 3800 |
₹3790 to 3850 |
|
Uttar Pradesh |
|
₹3930 to 3990 |
|
Gujarat |
₹3701 to 3791 |
₹3791 to 3831 |
|
Tamil Nadu |
₹3830 to 3960 |
₹3825 to 3835 |
|
Madhya Pradesh |
₹3820 |
₹3860 to 3870 |
|
Punjab |
₹4060 to 4131 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 27 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 $508.20 ton, whereas the New York Sugar #11 front month contract is trading at 19.37 c/lb. The corn futures market trades at 480-6 and the ethanol Chicago trades at 1.67500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.245 whereas USD was trading with BRL at 5.8919 Crude WTI traded at $74.08 barrel. Sensex closed 824.29 points down at 75,366.17 whereas Nifty closed 263.05 points lower at 22,829.15
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