ChiniMandi, Mumbai: 20th Feb 2025
Domestic Market
Domestic sugar prices bucked the downtrend
After seven sessions of weak trading, domestic sugar prices were reported to be higher, with prices up by Rs 30-40 per quintal across the centers. Prices in Maharashtra and Karnataka are up by Rs 30 per quintal, while prices in Uttar Pradesh have risen by Rs 40 per quintal. Prices in Maharashtra and Karnataka are rising as more mills close their crushing operations. Demand is reported to be strong, with mill and resale prices remaining stable.
On the export front, ISMA reported that approximately 2.0 lakh tons had been exported and 3.0 lakh tons were contracted. With global prices recovering, exports are expected to increase in the coming months.
Sugar exports are typically priced between Rs 42,000 and 44,000 per MT. Low-quality whites will be comparable up to $472 per MT. S-grade sugar in Kolhapur ranges between Rs 3,710 and 3,770 per quintal, while M-grade sugar in Muzaffarnagar costs between Rs 3,970 and 4,020.
Ex-mill Sugar Prices as onย Feb, 20 2025 :ย
|
State |
S/30ย [Rates per Quintal]ย |
M/30 [Rates per Quintal]ย |
|
Maharashtra |
โน3705 to 3725 |
โน3805 to 3870 |
|
South Karnataka |
โน3890 to 3900 |
โน3940 to 3950 |
|
Uttar Pradesh |
|
โน3970 to 4030 |
|
Gujarat |
โน3821 |
โน3921 |
|
Tamil Nadu |
โน3940 to 4050 |
โน4000 to 4125 |
|
Madhya Pradesh |
โน4040 to 4060 |
โน4090 to 4120 |
|
Punjab |
โน4050 to 4125 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Feb, 20 2025 :ย
|
Cityย |
Gradeย |
Rateย |
|
Delhi |
M/30 |
โน4,252.50 |
|
Kanpur |
M/30 |
โน4,210.50 |
|
Kolhapur |
M/30 |
โน4,032.00 |
|
Kolkata |
M/30 |
โน4,315.50 |
|
Muzaffarnagar |
M/30 |
โน4,210.50 |
|
Ahmedabad |
M/30 |
โน4,179.00 |
|
Bangaluru |
M/30 |
โน4,189.50 |
|
Chennai |
M/30 |
โน4,299.75 |
At the time of writing this update London White Sugar #5 front month contract is trading at $547.80 ton, whereas the New York Sugar #11 front month contract is trading at 20.81 c/lb. The corn futures market trades at 502-0 and the ethanol Chicago trades at 1.68214s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 86.581 whereas USD was trading with BRL at 5.7081 Crude WTI traded at $72.31 barrel. Sensex closed 203.22 points down at 75,735.96 whereas Nifty closed 19.75 points lower at 22,913.15
News Round-Up
EID Parry may look at the conversion of existing plant into multi-feed grain
EID Parry may look at the conversion of existing plant into multi-feed grain
Karnataka: Minister asks mills to clear cane dues on time or else face action
Karnataka: Minister asks mills to clear cane dues on time or else face action
UP budget: Rs 475 crore for cane payments, Rs 90 crore for distillery, Rs 50 crore for new sugar mill and logistics hub and warehousing complex announced
