ChiniMandi, Mumbai: 28th Mar 2025
Domestic Market
Domestic sugar prices traded higher on lower monthly quota
In major markets, domestic sugar prices were reported to have increased by Rs 20-30 per quintal. In Maharashtra, prices went up by Rs 20 per quintal, while in Karnataka and Uttar Pradesh, they went up by Rs 30 per quintal. Market insiders claim that because of the sharp increase in prices after the export announcement, demand is low. But as summer approaches, demand ought to increase in the days ahead.
The Food Ministry announced on March 27 that the monthly sugar quota for April 2025 would be 23.5 lakh metric tonnes (LMT), which is less than the quota for April 2024. In addition, the March quota has been extended by the government until April 10. The government established a 25 LMT monthly sugar quota for domestic sales in April 2024. 23 LMT was the sugar quota for March 2025.
Market analysts predict that the carryforward stock will be approximately one lakh tonnes. Because of the summer and the anticipated rise in temperatures, the market is probably going to be in high demand. In April of last year, 25.80 lakh tonnes of sugar were consumed. As a result, market sentiment is probably going to stay positive.
Market sources indicate that sugar for export is currently selling for about Rs 42,000 per MT; exporters have seen a decrease in realization as a result of the stronger INR. Approximately 7.0 lakh tons have contracted, according to market sources. Low-quality whites will be at parity until $480 per MT, indicating higher due to stronger INR, while London whites are valued at $537.5 per MT in the most active contract.
In Kolhapur, S-grade sugar costs between Rs 3,760 and Rs 3,820 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 4,000 and Rs 4,050.
Ex-mill Sugar Prices as on Mar, 28 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3790 to 3820 |
₹3860 to 3880 |
|
South Karnataka |
₹4000 |
₹4050 |
|
Uttar Pradesh |
|
₹4000 to 4050 |
|
Gujarat |
₹3851 to 3881 |
₹3951 to 3981 |
|
Tamil Nadu |
₹4000 to 4100 |
₹4110 to 4150 |
|
Madhya Pradesh |
₹3990 to 4040 |
₹4060 to 4090 |
|
Punjab |
₹4100 to 4151 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Mar, 28 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,284.00 |
|
Kanpur |
M/30 |
₹4,252.50 |
|
Kolhapur |
M/30 |
₹4,053.00 |
|
Kolkata |
M/30 |
₹4,357.50 |
|
Muzaffarnagar |
M/30 |
₹4,221.00 |
|
Ahmedabad |
M/30 |
₹4,158.00 |
|
Bangaluru |
M/30 |
₹4,263.00 |
|
Chennai |
M/30 |
₹4,357.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $535.90 ton, whereas the New York Sugar #11 front month contract is trading at 19.03c/lb. The corn futures market trades at 445-2 and the ethanol Chicago trades at 1.69750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.542 whereas USD was trading with BRL at 5.7468 Crude WTI traded at $69.87 barrel. Sensex closed 191.51 points down at 77,414.92 whereas Nifty closed 72.60 points lowerr at 23,519.35.
News Round-Up
State-wise monthly sugar quota for sale in April 2025
Sugar mills to face strict action if repeatedly violate monthly stockholding limit orders
Food ministry asks sugar mills to comply 20 per cent mandatory jute packing
