India Sugar
Up in north on improved demand; steady in Maharashtra
This story was originally published at 18:33 IST on 8 January 2025
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By Taniva Singha Roy
MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh rose Wednesday as demand improved slightly, said traders. Mills in Maharashtra kept prices steady as demand and supply were on a par, they said.
Mills across Uttar Pradesh increased prices by INR 10-INR 15 per 100 kg as demand improved, said Naresh Gupta, a trader from northern India. Prices rose significantly by INR 80-INR 90 per 100 kg after the sales quota was announced. In the resale market too, prices increased by INR 5-INR 10 per 100 kg, Gupta said.
Prices are likely to remain at current levels in the coming days but may increase later as this is the beginning of the month and at 2.25 million tonnes, the sales quota for January may not be enough to meet demand during the month, given various festivals and demand from bulk consumers of sugar such as confectioners, Gupta added.
Mills in Maharashtra kept prices steady as there was little demand at elevated prices, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices of the sweetener rose over the past few days owing to demand from households since the last week of December, Kuvadia said. Prices could stabilise at current levels, Kuvadia added.
The following are the highlights of sugar prices in the domestic market on Thursday:
-Up INR 10-INR 15 at INR 3,690-INR 3,865 per 100 kg in western Uttar Pradesh
-Up INR 10-INR 15 at INR 3,680-INR 3,890 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 1723 IST, the price of sugar on the Intercontinental Exchange was steady at 19.44 cents per pound. End
US$1 = INR 85.84
Edited by Rajeev Pai
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