More Stories

Informist, Friday, Jan. 3, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh rose again Friday as demand improved and mills are not in a hurry to meet the sales quota, said traders. Mills in Maharashtra kept prices steady as demand and supply were on a par, they said.

Mills across Uttar Pradesh raised prices by INR 40-INR 50 per 100 kg as demand improved, said Naresh Gupta, a trader from north India. As this is the beginning of the month, mills are also not in a hurry to meet the sales quota, he said. Moreover, mills are not eager sellers at the moment, in anticipation of a rise in prices further, Gupta said. 

Additionally, at 2.25 million tonnes, the sales quota for January may not be enough to meet the demand during the month, he said. Prices could rise further as there are a few festivals in January and there could be demand from bulk consumers of sugar such as confectioners, Gupta added.

Mills in Maharashtra kept prices steady today as there was little demand at the elevated prices, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Sweetener prices in the state increased by INR 20-INR 30 per 100 kg the previous day as there was demand from households since the last week of December, Kuvadia said. Prices are likely to increase in the coming days, since prices fell by around INR 200 per 100 kg in the past two months and mills will try to push them back to their earlier levels, he added. Prices are likely to increase by INR 10-INR 20 per 100 kg in the coming days, Kuvadia said.

The following are the highlights of sugar prices in the domestic market on Thursday:

-Up INR 40-INR 50 at INR 3,680-INR 3,850 per 100 kg in western Uttar Pradesh

-Up INR 40-INR 50 at INR 3,670-INR 3,875 per 100 kg in central Uttar Pradesh

-Flat at INR 3,520-INR 3,580 per 100 kg in Kolhapur, Maharashtra

-Flat at INR 3,672-INR 3,852 per 100 kg in Mumbai, Maharashtra

At 1649 IST, the price of sugar on the Intercontinental Exchange fell 1.1% to 19.51 cents per pound tracking losses in crude oil prices on the NYMEX. Lower crude oil prices discourage diversion of sugarcane towards the production of ethanol, leading to a rise in sugar supplies.  End

US$1 = INR 85.77

Edited by Deepshikha Bhardwaj

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.