India Sugar
Down in north India; Maharashtra prices unavailable as mkt shut
This story was originally published at 17:12 IST on 19 February 2025
Register to read our real-time news.Informist, Wednesday, Feb. 19, 2025
By Afra Abubacker
NEW DELHI – Ex-mill prices of sugar fell in the key markets of Uttar Pradesh Wednesday because of lower demand and month-end selling pressure. Markets in Maharashtra were shut on account of Shivaji Maharaj Jayanti, and hence prices were unavailable, traders said.
In Uttar Pradesh, prices fell by INR 10-INR 20 per 100 kg on month-end selling pressure and tepid demand. Mills are selling to meet their quotas for the month, Naresh Gupta, a north India based trader, said. The government has directed mills across the country to sell 2.25 million tonnes of sugar in February.
"Prices are on a downward trend. There is selling pressure, only 8-9 trading days are left before the month-end," Gupta said.
Prices from Maharashtra were unavailable as markets are shut for Shivaji Maharaj Jayanti and will reopen on Thursday, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
Following are the highlights of sugar prices in the domestic market on Wednesday:
-Down by INR 10-INR 20 at INR 3,800-INR 3,920 per 100 kg in western Uttar Pradesh
-Down by INR 10-INR 20 at INR 3,870-INR 3,980 in central Uttar Pradesh
-Unavailable in Kolhapur, Maharashtra
-Unavailable in Mumbai, Maharashtra
At 1725 IST, sugar prices on the Intercontinental Exchange were up 0.5% at 19.25 cents per pound due to fall in sugar production in India. As of Saturday, India's sugar output was down 12% on year at 19.7 mln tn due to fall in sugarcane yield, according to the Indian Sugar Mills & Bio-Energy Manufacturers Association. End
Edited by Ashish Shirke
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