ChiniMandi, Mumbai: 2nd May 2025
Domestic Market
Sugar prices were continue to trade higher
Domestic sugar prices were reported to be higher by Rs 10-30 per quintal on good demand. As per the sources, above normal temperatures or heat waves are keeping demand higher. Additionally lower monthly quota also supporting the sentiment in the spot markets.
Meanwhile, the Central Government has approved a Rs. 15 per quintal increase in the FRP of sugarcane for the 2025–26 crushing season. With this hike, the new FRP stands at Rs. 355 per quintal, up from the existing Rs. 340 per quintal, based on a 10.25% sugar recovery rate.
Following the increase in the sugarcane Fair and Remunerative Price (FRP), sugar industry bodies in India have welcomed the government’s decision but have also called for an increase in the Minimum Selling Price (MSP) of sugar. Sugar MSP is kept stable from 2019 but sugarcane FRP is increasing every year.
S-grade sugar costs between Rs 3,790 and Rs 3,850 per quintal in Kolhapur, while M-grade sugar ranges between Rs 4,020 and Rs 4,150 in Muzaffarnagar.
Ex-mill Sugar Prices as on May, 2 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3800 to 3840 |
₹3890 to 3910 |
|
South Karnataka |
₹4050 to 4075 |
₹4125 |
|
Uttar Pradesh |
|
₹4020 to 4150 |
|
Gujarat |
₹3831 to 3871 |
₹3911 to 3961 |
|
Tamil Nadu |
₹4150 to 4250 |
₹4210 to 4300 |
|
Madhya Pradesh |
₹3965 to 3980 |
₹4035 to 4055 |
|
Punjab |
₹4130 to 4245 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May,, 2 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,336.50 |
|
Kanpur |
M/30 |
₹4,305.00 |
|
Kolhapur |
M/30 |
₹4,089.75 |
|
Kolkata |
M/30 |
₹4,368.00 |
|
Muzaffarnagar |
M/30 |
₹4,284.00 |
|
Ahmedabad |
M/30 |
₹4,147.50 |
|
Bangaluru |
M/30 |
₹4,273.50 |
|
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 $489.90 ton, whereas the New York Sugar #11 front month contract is trading at 17.02 c/lb. The corn futures market trades at 464-2 and the ethanol Chicago trades at 1.77500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 84.336 whereas USD was trading with BRL at 5.6605 Crude WTI traded at $59.05 barrel. Sensex closed 259.75 points up at 80501.99 whereas Nifty closed 12.50 points higher at 24346.70
News Round-Up
Government issues Sugar (Control) Order, 2025: Read complete order
Government issues Sugar (Control) Order, 2025: Read complete order
Changes expected to ensure stability in domestic market: ISMA on formulation of Sugar (Control) Order, 2025
Urgent need for proportional hike in sugar MSP and ethanol prices in light of FRP increase
Urgent need for proportional hike in sugar MSP and ethanol prices in light of FRP increase
