ChiniMandi, Mumbai: 2nd July 2025
Domestic Market
Domestic sugar prices reported weak
Domestic sugar prices in the major markets were reported to be weak. Prices have fallen by Rs 10-20 per quintal across the major markets on subdued demand., Prices in the major markets of Uttar Pradesh fell by Rs 10-20 per quintal while Maharashtra and Karnataka were reported lower by Rs 20 per quintal.
IMD has released the July month forecast on 30th June. As per the update, rains are expected to remain at 106% above normal in most of the regions with exception of North East and extreme Southern India. Meanwhile, rainfall activity especially over Marathwada regions of Maharashtra was scanty with a 43% deficit so far in June. This should raise a concern on the standing crop as the forecast also indicates dry weather till July mid.
M-grade sugar costs between Rs 3,920 and Rs 3,970 per quintal in Muzaffarnagar, whereas S-grade sugar costs between Rs 3,750 and Rs 3,790 in Kolhapur.
Ex-mill Sugar Prices as on July, 02 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3740 to 3760 |
₹3820 to 3860 |
|
South Karnataka |
₹3900 to 3960 |
– |
|
Uttar Pradesh |
|
₹3920 to 3970 |
|
Gujarat |
₹3765 to 3791 |
₹3801 to 3831 |
|
Tamil Nadu |
₹4000 to 4175 |
₹4100 to 4200 |
|
Madhya Pradesh |
₹3850 to 3865 |
₹3920 to 3935 |
|
Punjab |
₹3980 to 4090 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on July, 02 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,242.00 |
|
Kanpur |
M/30 |
₹4,221.00 |
|
Kolhapur |
M/30 |
₹4,011.00 |
|
Kolkata |
M/30 |
₹4,273.50 |
|
Muzaffarnagar |
M/30 |
₹4,126.50 |
|
Ahmedabad |
M/30 |
₹4,021.50 |
|
Bangaluru |
M/30 |
₹4,242.00 |
|
Chennai |
M/30 |
₹4,378.50 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $460.70 ton, whereas the New York Sugar #11 front month contract is trading at 15.76 c/lb. The corn futures market trades at 416-4 and the ethanol Chicago trades at 1.70000s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.625 whereas USD was trading with BRL at 5.4580 Crude WTI traded at $66.10 barrel. Sensex closed 287.60 points down at 83,409.69 whereas Nifty closed 88.40 points lower at 25,453.40
News Round-Up
ESY 2024-25: OMCs invite bids for around 49 crore litres of ethanol for Q4
ESY 2024-25: OMCs invite bids for around 49 crore litres of ethanol for Q4
Maharashtra truck drivers on indefinite strike against e-challan
Maharashtra truck drivers on indefinite strike against e-challan
Pakistan: No subsidy or tax exemptions for sugar imports
