India Sugar
Steady in key markets as demand sluggish at higher rates
This story was originally published at 20:27 IST on 4 March 2025
Register to read our real-time news.Informist, Tuesday, Mar. 4, 2025
By Taniva Singha Roy
MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady Tuesday, as mills had increased rates significantly after the sales quota was released and demand was sluggish at higher rates, said traders. Prices could rise on account of Ramadan and upcoming Holi festival, and growing seasonal demand from ice-cream and cold-drink manufacturers, they said.
Mills across Uttar Pradesh kept prices steady Tuesday as mills had already quoted higher prices the previous day and there was no demand at those rates, said Naresh Gupta, a trader from north India. In the resale market, prices fell by INR 10-INR 15 per 100 kg as traders were unable to sell at higher rates, he said.
Prices of the sweetener rose by INR 60-INR 70 per 100 kg after the government released the sales quota for March on Feb. 25, as the quota was considered insufficient. Prices are likely to rise 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. The quota is 2.2% higher than that for February, 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 monthly sales quota, and are likely to increase further, Kuvadia said.
Following are the highlights of sugar prices in the domestic market Tuesday:
-Flat 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 1731 IST, sugar prices on the Intercontinental Exchange were up 0.2% at 18.26 cents per pound. The International Sugar Organization cut its 2024-25 global sugar production forecast to 175.5 million tonnes from 179.1 million tonnes forecast in November, which supported global sugar prices. End
US$1 = INR 87.26
Edited by Ashish Shirke
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