More Stories

Informist, Monday, Mar. 10, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar fell in the key markets of Uttar Pradesh and Maharashtra Monday due to poor demand at higher levels, traders said. The fasting month of Ramzan is also weighing on the prices, they said.

Mills in Uttar Pradesh cut prices by INR 40-INR 50 per 100 kilograms due to poor demand during the Ramzan month, when people are fasting, said Naresh Gupta, a trader from north India. Moreover, prices are already on the higher side, so mills are holding back from increasing rates further, he said. In the resale market, too, prices fell by INR 10-INR 15 per 100 kg Monday as traders were unable to sell at higher rates, Gupta, said. 

Prices of the sweetener had risen 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. The government has set the domestic sugar sales quota for March at 2.30 million tonnes, up 2.2% tonnes from a month ago but down 2.1% from a year ago.

Mills in Maharashtra cut prices by INR 10-INR 20 per 100 kg 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 monthly sales quota was announced. Sugar prices in the state are likely to remain at the current levels in the coming days if demand does not pick up, Kuvadia added.

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

-Down INR 40-INR 50 at INR 3,900-INR 4,020 per 100 kg in western Uttar Pradesh

-Down INR 40-INR 50 at INR 3,900-INR 4,040 in central Uttar Pradesh

-Down INR 10-INR 20 at INR 4,072-INR 4,132 per 100 kg in Kolhapur, Maharashtra

-Down INR 10-INR 20 at INR 3,972-INR 4,070 per 100 kg in Mumbai, Maharashtra

At 2031 IST, sugar prices on the Intercontinental Exchange were up 3% at 18.85 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 earlier, which supported prices.  End

US$1 = INR 87.33

Edited by Saji George Titus

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 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.