India Sugar
Flat in key markets ahead of March sales quota
This story was originally published at 16:06 IST on 21 February 2025
Register to read our real-time news.Informist, Friday, Feb. 21, 2025
By Afra Abubacker
NEW DELHI – Ex-mill prices of sugar were flat in the key markets of Maharashtra and Uttar Pradesh on Friday ahead of the March sales quota, traders said. They said prices are at a crossroads with improved demand at lower price levels, month-end selling pressure, and March sales quota due next week.
The government has allowed mills in 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. In March 2024, the government had asked mills to sell 2.35 million tonnes of sugar.
As of Thursday, mills in Maharashtra made 7.1 million tonnes of sugar, down from 8.5 million tonnes last year, according to the state Sugar Commissionerate data. Sugar output has fallen amid a decline in sugarcane yields. Maharashtra is the top sugar-producing state in the country.
About 38 mills have finished crushing for the season in the state against 11 mills in the same period of year last year, the data showed. Mills had early closure this year due to lower availability of canes.
For the current season ending September, India is estimated to produce 27.3 million tonnes, down 14.4% from 31.9 million tonnes last year, according to the Indian Sugar Mills & Bio-Energy Manufacturers Association.
Following are the highlights of sugar prices in the domestic market on Friday:
-Flat at INR 3,830-INR 3,950 per 100 kg in western Uttar Pradesh
-Flat at INR 3,890-INR 3,980 in central Uttar Pradesh
-Flat at INR 3,820-INR 3,880 per 100 kg in Kolhapur, Maharashtra
-Flat at INR 3,880-INR 4,162 per 100 kg in Mumbai, Maharashtra
At 1542 IST, sugar prices on the Intercontinental Exchange were largely flat at 21.05 cents per pound. End
US$1 = INR 86.71
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Saji George Titus
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