ChiniMandi, Mumbai: 28th April 2025
Domestic Market
Sugar prices surged due to lower monthly quota
Domestic sugar prices increased by Rs 20-30 per quintal across states due to lower monthly quotas than the previous year. According to the Food Ministry, the quota for the month of may was reported at 23.5 lakh tons, down 3.5 lakh tons from the previous year and consistent with the previous month. Additionally, the government extended the March 2024 quota until April 10.
According to market experts, the market is likely to be in high demand during the summer months. Last May, sugar consumption totaled 26.10 lakh tonnes. Given this, market sentiment is likely to remain bullish.
On the export front, parity has turned negative due to the recent drop in global prices and the stronger INR. However, because most of the quantities are contracted at or above $520 per MT, the majority of the sugar is expected to ship by mid-June, before the monsoon season begins in Maharashtra.
S-grade sugar costs between Rs 3,750 and Rs 3,810 per quintal in Kolhapur, while M-grade sugar ranges between Rs 3,990 and Rs 4,100 in Muzaffarnagar.
Ex-mill Sugar Prices as on April, 28 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3790 to 3810 |
₹3860 to 3880 |
|
South Karnataka |
₹4000 to 4010 |
₹4060 |
|
Uttar Pradesh |
|
₹3990 to 4100 |
|
Gujarat |
₹3831 to 3861 |
₹3921 to 3951 |
|
Tamil Nadu |
₹4075 to 4200 |
₹4135 to 4200 |
|
Madhya Pradesh |
₹3940 to 3970 |
₹4010 to 4030 |
|
Punjab |
₹4060 to 4191 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on April, 28 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,305.00 |
|
Kanpur |
M/30 |
₹4,284.00 |
|
Kolhapur |
M/30 |
₹4,058.25 |
|
Kolkata |
M/30 |
₹4,336.50 |
|
Muzaffarnagar |
M/30 |
₹4,252.50 |
|
Ahmedabad |
M/30 |
₹4,126.50 |
|
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 $501.50 ton, whereas the New York Sugar #11 front month contract is trading at 17.75 c/lb. The corn futures market trades at 472-0 and the ethanol Chicago trades at 1.77000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.041 whereas USD was trading with BRL at 5.6840 Crude WTI traded at $62.92 barrel. Sensex closed 1005.84 points up at 80218.37 whereas Nifty closed 289.15 points higher at 24328.50
News Round-Up
Government fixes 23.5 LMT monthly sugar quota for domestic sale in May 2025
Government fixes 23.5 LMT monthly sugar quota for domestic sale in May 2025
Sugar import likely to increase in Nigeria in 2025-26
Rajputana Biodiesel and its subsidiary secure Rs 51.13 crore biodiesel supply order from OMCs
Rajputana Biodiesel and its subsidiary secure Rs 51.13 crore biodiesel supply order from OMCs
