India Sugar
Down in Maharashtra on low demad, unchanged in north India
This story was originally published at 18:07 IST on 18 February 2025
Register to read our real-time news.Informist, Tuesday, Feb. 18, 2025
By Afra Abubacker
NEW DELHI – Ex-mill prices of sugar fell in the key markets of Maharashtra on lower demand and month-end selling pressure. Meanwhile, prices in Uttar Pradesh were largely unchanged, traders said.
In Maharashtra, prices fell by INR 10 per 100 kg as demand continued to be poor, Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. Mills are under selling pressure to offload their quotas by the month-end, he added. The government has allowed mills across the country to sell 2.25 million tonnes of sugar in February. The government fixes the maximum quantity of sugar available for sale every month to check prices and help mills pay sugarcane farmers.
Going forward, traders see sugar prices largely range-bound with a downside bias amid lower demand and good supply. "Sugar prices may improve only on summer demand from March," Kuvadia said. Ice cream makers and cool drink manufacturers are likely to bulk buy sugar to meet summer demand, he added.
Meanwhile, prices were unchanged in key markets of Uttar Pradesh. "By and large prices were same as yesterday," Naresh Gupta, a trader from north India. On Tuesday, the Uttar Pradesh government kept the state-advised price of sugarcane for 2024-25 (Oct-Sep) unchanged from last year. Mills have to pay farmers state-fixed prices for cane purchases.
In January 2024, the Uttar Pradesh government increased the state-advised prices of sugarcane by 20 rupees for all varieties for 2023-24 (Oct-Sep). Mills in the state have to pay INR 370 per 100 kg for good quality sugarcane, INR 360 for average quality, and INR 355 for poor quality cane.
The following are the highlights of sugar prices in the domestic market on Tuesday:
-Flat at INR 3,850-INR 3,950 per 100 kg in western Uttar Pradesh
-Flat at INR 15-INR 20 at INR 3,870-INR 4,020 in central Uttar Pradesh
-Down by INR 10 at INR 3,800-INR 3,870 per 100 kg in Kolhapur, Maharashtra
-Down by INR 10 at INR 3,860-INR 4,000 per 100 kg in Mumbai, Maharashtra
At 1725 IST, sugar prices on the Intercontinental Exchange were up 0.4% at 20.6 cents per pound amid concerns about Brazil's sugarcane crop. CONAB, the Brazilian government's crop forecasting agency, has cut its sugar production estimate to 44 million tonnes from a previous forecast of 46 million tonnes, citing lower sugarcane yields due to drought and excessive heat. End
US$1 = INR 86.95
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
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 /+91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
