ChiniMandi, Mumbai: 23rd Jan 2025
Domestic Market
Weak sentiment witnessed in domestic sugar prices
After a sharp rise,domestic sugar prices in major markets have reported lower by Rs 10-20 per quintal across the major markets. Prices fell by Rs 10 per quintal in Maharashtra and by Rs 20 per quintal in Uttar Pradesh. As prices are trading at 14 month high, due to export permission by Indian government of 1.0 MMT which has fuelled the price rally. After a sharp rise and fall in global prices parity has impacted.
S-grade sugar in Kolhapur is priced between Rs 3,540 and 3,590 per quintal, while M-grade sugar in Muzaffarnagar ranges from Rs 3,940 to 4,000.
Ex-mill Sugar Prices as onย Jan, 23 2025 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3580 to 3630 |
โน3630 to 3680 |
|
South Karnataka |
โน3775 to 3800 |
โน3820 to 3850 |
|
Uttar Pradesh |
|
โน3940 to 4000 |
|
Gujarat |
โน3741 to 3831 |
โน3831 to 3871 |
|
Tamil Nadu |
โน3820 to 3960 |
โน3950 |
|
Madhya Pradesh |
โน3790 to 3820 |
โน3860 to 3890 |
|
Punjab |
โน4070 to 4131 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as onย Jan, 23 2025 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน4,210.50 |
|
Kanpur |
M/30 |
โน4,173.75 |
|
Kolhapur |
M/30 |
โน3,864.00 |
|
Kolkata |
M/30 |
โน4,252.50 |
|
Muzaffarnagar |
M/30 |
โน4,168.50 |
|
Ahmedabad |
M/30 |
โน4,032.00 |
|
Bangaluru |
M/30 |
โน4,084.50 |
|
Chennai |
M/30 |
โน4,242.00 |
At the time of writing this update London White Sugar #5 front month contract is trading at $486.40 ton, whereas the New York Sugar #11 front month contract is trading at 18.54 c/lb. The corn futures market trades at 484-4 and the ethanol Chicago trades at 1.69500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.425 whereas USD was trading with BRL at 5.9668, Crude WTI traded at $75.81 barrel. Sensex closed 115.39 points up at 76,520.38 whereas Nifty closed 50.00 points higher at 23,205.35
News Round-Up
Sugar industry optimistic that Budget 2025 will address key challenges and pave way for sustainable growth: Tarun Sawhney
Vijay Nirani named Co-Chairperson of India Alliance on Sustainable Aviation Fuel (SAF) to propel nationโs decarbonization goals
H2Earth plans to set up silicon, green hydrogen-ammonia plants in India, says Director Kapil Agarwal
H2Earth plans to set up silicon, green hydrogen-ammonia plants in India, says Director Kapil Agarwal
