ChiniMandi, Mumbai: 29th May 2025
Domestic Market
Domestic sugar prices remained stable
After a weak session due to heavy rainfall, domestic sugar prices were reported to be stable for the second session. According to sources, because prices are trading at a two and a half month low, sellers are hesitant to liquidate the material. However, demand is said to be muted, putting downward pressure on prices.
On May 28, the Food Ministry announced a monthly sugar quota of 23 lakh metric tonnes (LMT) for June 2025. The allotted quota is 2.5 lakh tons lower than the same month last year and 0.5 lakh tons less than the previous month. As demand remains sluggish, sentiment is expected to deteriorate.
M-grade sugar costs between Rs 3,940 and Rs 4,060 per quintal in Muzaffarnagar, and S-grade sugar costs between Rs 3,730 and Rs 3,785 in Kolhapur.
Ex-mill Sugar Prices as on May, 29 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3765 to 3790 |
₹3845 to 3870 |
|
South Karnataka |
₹3975 |
– |
|
Uttar Pradesh |
|
₹3940 to 4060 |
|
Gujarat |
₹3800 to 3811 |
₹3875 to 3881 |
|
Tamil Nadu |
₹4050 to 4200 |
₹4150 |
|
Madhya Pradesh |
₹3900 to 3920 |
₹3970 to 3990 |
|
Punjab |
₹4030 to 4181 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on May, 29 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,294.50 |
|
Kanpur |
M/30 |
₹4,242.00 |
|
Kolhapur |
M/30 |
₹4,016.25 |
|
Kolkata |
M/30 |
₹4,294.50 |
|
Muzaffarnagar |
M/30 |
₹4,210.50 |
|
Ahmedabad |
M/30 |
₹4,084.50 |
|
Bangaluru |
M/30 |
₹4,263.00 |
|
Chennai |
M/30 |
₹4,389.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $469.00 ton, whereas the New York Sugar #11 front month contract is trading at 16.82 c/lb. The corn futures market trades at 446-4 and the ethanol Chicago trades at 1.73500s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.404 whereas USD was trading with BRL at 5.6856 Crude WTI traded at $62.09 barrel. Sensex closed 320.70 points up at 81633.02 whereas Nifty closed 81.15 points higher at 24833.60
News Round-Up
GEMA urges government to realign maize-based ethanol prices amid rising MSP
GEMA urges government to realign maize-based ethanol prices amid rising MSP
Pakistan: Government, sugar mills agree to conduct third party audit of sugar prices
Pakistan: Government, sugar mills agree to conduct third party audit of sugar prices
India must reassess US trade deal: GTRI after Trump tariff declared unlawful
India must reassess US trade deal: GTRI after Trump tariff declared unlawful
