More Stories

Informist, Friday, Feb. 7, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady again Friday due to poor demand at higher rates, said traders. Prices might increase from current levels in the coming days, but at a slower pace, they said.

Mills in Uttar Pradesh kept prices steady due to sluggish demand at elevated prices, said Naresh Gupta, a trader from north India. In the resale market, however, prices fell by INR 10-INR 15 per 100 kg, he said.

Mills have exhausted the low-priced sugar and prices are likely to rise further in the coming days but at a slower pace as prices are already high, he added. Mills are also expected to raise prices in the coming days as it is the beginning of the month and demand is likely to pick up from bulk consumers of sugar such as ice-cream and cold-drink manufacturers, he said. 

In Maharashtra, too, mills kept prices steady on Friday, as demand and supply were on par, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Mills in the states raised prices by INR 30-INR 40 per 100 kg a few days back due to concern about lower output, said Kuvadia. The Indian Sugar Mills & Bio-Energy Manufacturers Association has projected sugar production in the sugar year 2024-25 (Oct-Sept) at 27.3 million tonnes, down 14.4% from the 31.9 million tonnes produced in 2023-24, according to its second advance estimate.

Mills are also exporting sugar, which has raised concerns about domestic availability. This, Kuvadia said, is likely to support prices. The government allowed 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 due to concerns about lower production. After Brazil, India is the largest sugar producer.

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

-Flat at INR 3,900-INR 4,010 per 100 kg in western Uttar Pradesh

-Flat at INR 3,900-INR 4,010 per 100 kg in central Uttar Pradesh

-Flat at INR 3,890-INR 3,920 per 100 kg in Kolhapur, Maharashtra

-Flat at INR 3,882-INR 3,992 per 100 kg in Mumbai, Maharashtra

At 1733 IST, sugar prices on the Intercontinental Exchange were up 0.5% at 19.67 cents per pound, tracking gains in crude oil prices on the Ney York Mercantile Exchange. Higher crude oil prices encourage diversion of sugarcane towards production of ethanol, leading to a fall in sugar supplies.  End

US$1 = INR 87.42

Edited by Ashish Shirke

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.