ChiniMandi, Mumbai: 13th Jan 2025
Domestic Market
Domestic sugar prices continue to rise
Domestic sugar prices in major markets have continued to rise due to strong demand. According to market sources, demand is strong, with prices remaining at a one-and-a-half-month high. Prices increased by Rs 10-20 per quintal.
In addition, there are rumours circulating that a decision on increasing MSP will happen soon, which is supporting the sentiment. According to industry sources, even if the MSP increases, it is expected to rise by Rs 4-5 per kg.
S-grade sugar in Kolhapur costs between Rs 3,430 and 3,480 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,860 to 3,920. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,380 and Rs 3,500 per quintal in the near future.
Ex-mill Sugar Prices as onย Jan, 13 2025 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3435 to 3505 |
โน3505 to 3605 |
|
South Karnataka |
โน3650 to 3675 |
โน3680 to 3725 |
|
Uttar Pradesh |
|
โน3860 to 3920 |
|
Gujarat |
โน3541 to 3581 |
โน3561 to 3641 |
|
Tamil Nadu |
โน3750 to 3900 |
โน3850 to 3975 |
|
Madhya Pradesh |
โน3660 to 3710 |
โน3740 to 3835 |
|
Punjab |
โน3970 to 4051 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as onย Jan, 13 2025 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน4,116.00 |
|
Kanpur |
M/30 |
โน4,084.50 |
|
Kolhapur |
M/30 |
โน3,748.50 |
|
Kolkata |
M/30 |
โน4,147.50 |
|
Muzaffarnagar |
M/30 |
โน4,079.25 |
|
Ahmedabad |
M/30 |
โน3,916.50 |
|
Bangaluru |
M/30 |
โน3,969.00 |
|
Chennai |
M/30 |
โน4,116.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $497.70 ton, whereas the New York Sugar #11 front month contract is trading at 19.00 c/lb. The corn futures market trades at 474-6 and the ethanol Chicago trades at 1.65750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.691 whereas USD was trading with BRL at 6.0959, Crude WTI traded at $77.07 barrel. Sensex closed 1,048.90 points down at 76,330.01 whereas Nifty closed 345.55 points lower at 23,085.95
News Round-Up
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Thailand: OCSB aims to slash burnt sugarcane harvesting to 10 per cent
Thailand: OCSB aims to slash burnt sugarcane harvesting to 10 per cent
