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Informist, Monday, Mar. 3, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar rose slightly at some key markets in Uttar Pradesh but were steady in Maharashtra, traders said. Prices could rise in the coming days as there is firm demand on account of the start of Ramadan, the upcoming Holi festival, and growing seasonal demand from ice-cream and cold-drink manufacturers, they said.

A few mills in western Uttar Pradesh raised prices by INR 5-INR 10 per 100 kg as there was demand for sugar from bulk consumers such as ice-cream manufacturers and increased household demand, which is usually strong at the start of a month, said Naresh Gupta, a trader from north India. Prices wre steady in central Uttar Pradesh, Gupta said.

Prices of the sweetener have risen by INR 60-INR 70 per 100 kg after the government released the sales quota for March Tuesday, as the quota is considered insufficient. Prices are likely to increase further in the coming days in anticipation of firm demand, Gupta added.

The Centre has set the domestic sugar sales quota for March at 2.30 million tonnes, according to a post of the Department of Food and Public Distribution on social media platform X. The quota is 2.2% higher than the February quota, but down 2.1% from 2.35 million tonnes in March last year.

Mills in Maharashtra kept prices steady as they had already raised prices by INR 20 per 100 kg, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices have risen by INR 70-INR 80 per 100 kg since the release of the mothly sales quota, and are likely to increase further, Kuvadia said.

Following are the highlights of sugar prices in the domestic market Monday:

-Up INR 5-INR 10  at INR 3,975-INR 4,120 per 100 kg in western Uttar Pradesh

-Flat at INR 3,950-INR 4,100 in central Uttar Pradesh

-Flat at INR 4,082-INR 4,152 per 100 kg in Kolhapur, Maharashtra

-Flat at INR 3,982-INR 4,090 per 100 kg in Mumbai, Maharashtra

At 1817 IST, sugar prices on the Intercontinental Exchange were down 1.5% at 18.25 cents per pound. Czarnikow, a supply chain solutions company for agricultural, energy, and packaging products, has projected Brazil's sugar production for 2025-26 (Apr-Mar) to climb to a record 43.6 million tonnes, and said producing sugar will be more profitable than producing ethanol. The possibility of higher availability of sugar weighed on global prices.  End

US$1 = INR 87.37

Edited by Rajeev Pai

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