ChiniMandi, Mumbai: 29th Jan 2025
Domestic Market
Domestic sugar prices continue to trade higher
Domestic sugar prices in major markets have been reported to be up by Rs 10-30 per quintal. Prices have recovered by Rs 30 per quintal in Maharashtra and Karnataka, and by Rs 10 per quintal in Uttar Pradesh. The rise in global prices has resulted in a recovery in domestic prices, with export prices trading around Rs 40,000 per MT. According to market sources, export contracts have been executed at a good pace over the last 2-3 sessions, and we are now at parity for LQW up to $465 per MT.
S-grade sugar in Kolhapur is priced between Rs 3,600 and 3,640 per quintal, while M-grade sugar in Muzaffarnagar ranges from Rs 3,950 to 4,010.
Ex-mill Sugar Prices as on Jan, 29 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3670 |
₹3670 to 3720 |
|
South Karnataka |
₹3710 to 3800 |
₹3790 to 3850 |
|
Uttar Pradesh |
|
₹3950 to 4010 |
|
Gujarat |
₹3731 to 3821 |
₹3821 to 3861 |
|
Tamil Nadu |
₹3830 to 3960 |
₹3910 to 3950 |
|
Madhya Pradesh |
₹3810 to 3820 |
₹3850 to 3870 |
|
Punjab |
₹4040 to 4101 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 29 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,221.00 |
|
Kanpur |
M/30 |
₹4,184.25 |
|
Kolhapur |
M/30 |
₹3,906.00 |
|
Kolkata |
M/30 |
₹4,273.50 |
|
Muzaffarnagar |
M/30 |
₹4,179.00 |
|
Ahmedabad |
M/30 |
₹4,063.50 |
|
Bangaluru |
M/30 |
₹4,116.00 |
|
Chennai |
M/30 |
₹4,273.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $516.40 ton, whereas the New York Sugar #11 front month contract is trading at 19.31 c/lb. The corn futures market trades at 490-6 and the ethanol Chicago trades at 1.67250s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.614 whereas USD was trading with BRL at 5.8924 Crude WTI traded at $73.17 barrel. Sensex closed 631.55 points up at 76,532.96 whereas Nifty closed 205.85 points higher at 23,163.10
News Round-Up
Government fixes 22.5 LMT monthly sugar quota for domestic sale in February 2025
Government fixes 22.5 LMT monthly sugar quota for domestic sale in February 2025
ESY 2024-25: OMCs invite bids for around 124 crore litres of ethanol from C-heavy molasses and surplus FCI rice for Q2 and Q3
