ChiniMandi, Mumbai: 17th Jan 2025
Domestic Market
Domestic sugar prices continue to increase.
Domestic sugar prices in major markets have continued to rise and rose by another Rs 10-20 per quintal in today’s session. In yesterday’s meeting, as per reports the price increase has been deferred by a week. Moreover, there are chances of an increase in ethanol prices. We need to see how much the price of ethanol will increase if the government makes any decision regarding this.
S-grade sugar in Kolhapur costs Rs 3,480 to 3,520 per quintal, whereas M-grade sugar in Muzaffarnagar costs Rs 3,895 to 3,960. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,440 and Rs 3,550 per quintal in the near future. If sugar MSP rises, the range may change accordingly.
Ex-mill Sugar Prices as on Jan, 17 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3490 to 3565 |
₹3565 to 3665 |
|
South Karnataka |
₹3680 to 3710 |
₹3730 to 3760 |
|
Uttar Pradesh |
|
₹3895 to 3960 |
|
Gujarat |
₹3651 to 3671 |
₹3751 to 3771 |
|
Tamil Nadu |
₹3775 to 3900 |
₹3850 to 3975 |
|
Madhya Pradesh |
₹3740 to 3770 |
₹3790 to 3820 |
|
Punjab |
₹3990 to 4061 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 17 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,158.00 |
|
Kanpur |
M/30 |
₹4,121.25 |
|
Kolhapur |
M/30 |
₹3,790.50 |
|
Kolkata |
M/30 |
₹4,189.50 |
|
Muzaffarnagar |
M/30 |
₹4,116.00 |
|
Ahmedabad |
M/30 |
₹3,958.50 |
|
Bangaluru |
M/30 |
₹4,011.00 |
|
Chennai |
M/30 |
₹4,168.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $479.10 ton, whereas the New York Sugar #11 front month contract is trading at 18.13c/lb. The corn futures market trades at 475-6 and the ethanol Chicago trades at 1.69500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.587 whereas USD was trading with BRL at 6.0316, Crude WTI traded at $77.96 barrel. Sensex closed 423.49 points down at 76,619.33 whereas Nifty closed 108.60 points lower at 23,203.20
News Round-Up
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