India Sugar
Rise in Maharashtra on lower output concerns, steady in north
This story was originally published at 17:29 IST on 3 February 2025
Register to read our real-time news.Informist, Monday, Feb. 3, 2025
By Taniva Singha Roy
MUMBAI – Ex-mill sugar prices in key Maharashtra markets increased Monday, driven by positive market sentiment amid concerns over lower output, traders said. In Uttar Pradesh, prices remained steady as demand was low due to high prices, they added.
Maharashtra mills raised prices by INR 30-INR 40 per 100 kg, citing concerns about lower output, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. The Indian Sugar Mills & Bio-Energy Manufacturers Association has projected sugar production in the sugar year 2024-25 (October-September) to be 27.3 million tonnes, a 14.4% decrease from the 31.9 million tonnes produced in 2023-24, according to its second advance estimate.
Mills are also exporting sugar, raising concerns about domestic availability, which is helping to support prices, Kuvadia said. The government permitted the export of 1 million tonnes of sugar in the 2024-25 season to stabilise prices and ensure timely payments to farmers. The Centre had banned sugar exports in June 2022 amid concerns about lower production. After Brazil, India is the largest sugar producer.
In Uttar Pradesh, prices remained stable on Monday due to weak demand at higher price levels, according to Naresh Gupta, a trader from northern India. However, mills are expected to raise prices in the coming days following the increase in sweetener prices in key Maharashtra markets, Gupta added.
The following are the highlights of sugar prices in the domestic market Monday:
-Flat at INR 3,850-INR 4,020 per 100 kg in western Uttar Pradesh
-Flat at INR 3,850-INR 4,020 per 100 kg in central Uttar Pradesh
-Up INR 30-INR 40 at INR 3,890-INR 3,920 per 100 kg in Kolhapur, Maharashtra
-Up INR 30-INR 40 at INR 3,882-INR 3,992 per 100 kg in Mumbai, Maharashtra
At 1552 IST, sugar prices on the Intercontinental Exchange were down 0.6% at 19.24 cents per pound as a rally in the dollar index to a one-week high weighed on most commodity prices. An improving global sugar supply outlook, as India has allowed the export of 1 million tonnes of sugar, is also weighing on prices. End
US$1 = INR 87.19
Edited by Subhojit Sarkar
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.
To read more please subscribe
Share this Story:
