More Stories

Informist, Friday, Jan. 17, 2025 

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in key markets in Maharashtra rose Friday as there was firm demand and mills were in no hurry to meet their sales quota, said traders. Sugar prices in Uttar Pradesh were steady as demand was subdued on account of higher price levels, they said.

Mills in Maharashtra increased prices of the sweetener by INR 10 per 100 kg as demand was firm, said Semal Sudhir Jain, secretary of the Kolhapur Karad Sangli Sugar Merchants Association. There is no selling pressure on mills at the moment, so rates are likely to be on the positive side in the coming days, Jain said. Moreover, talk about a hike in the minimum selling price of sugar is likely to support prices, he added.

The government is likely to decide on revising the minimum selling price only after the release of production figures by the end of January, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.

Mills in Uttar Pradesh kept sweetener prices steady as there was little demand at the elevated price levels, said Naresh Gupta, a trader from north India. Prices have risen significantly, by INR 125 in January and by about INR 175 in the past two months, he said.

Sugar prices are likely to rise further as the second half of the month will see warmer weather, resulting in improved demand from bulk consumers such as ice-cream and soft-drink manufacturers. Weddings are also expected to pick up in the second half of January, which will support sugar prices, Gupta said.

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

-Flat at INR 3,750-INR 3,920 per 100 kg in western Uttar Pradesh

-Flat at INR 3,770-INR 3,930 per 100 kg in central Uttar Pradesh

-Up INR 10 at INR 3,565-INR 3,670 per 100 kg in Kolhapur, Maharashtra

-Up INR 10 at INR 3,752-INR 3,892 per 100 kg in Mumbai, Maharashtra

At 2018 IST, the price of sugar on the Intercontinental Exchange was down 1.6% at 18.11 cents per pound, tracking losses in crude oil prices on the New York Mercantile Exchange. Lower crude oil prices discourage diversion of sugarcane towards production of ethanol, leading to a rise in sugar supplies.  End

US$1 = INR 86.61

Edited by Rajeev Pai

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.