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Informist, Tuesday, Mar. 18, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh rose on Tuesday due to good demand, and mills were not in a hurry to offload stocks, traders said. Mills in Maharashtra kept prices steady due to demand-supply parity, they said.

Mills in Uttar Pradesh raised pries by INR 10-INR 15 per 100 kg as there was firm sessonal demand from bulk consumers of sugar such as ice-cream and cold-drink manufacturers, said Naresh Gupta, a trader from north India. Meanwhile, mills are not in a hurry to meet the sales quota for the month yet as demand is firm, the quota is not exceeding demand, and there is enough time to meet the quota, Gupta said.

Prices could rise further in the coming days due to seasonal demand, Gupta said. Heatwave to severe heatwave conditions are likely to continue in parts of interior Odisha for the next two days, the India Meterologoical Department said. Heatwave conditions are likely to abate from the rest of east India from Tuesday, the department said. Meanwhile, heatwave conditions could persist in parts of Jharkhand, Vidarbha, and north Telangana on Monday, the department said.

Prices of the sweetener were steady in Maharashtra as demand and supply were on par, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to remain at current levels for the rest of the month, Kuvadia said.

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

-Up INR 10-INR 15 at INR 3,960-INR 4,075 per 100 kg in western Uttar Pradesh

-Up INR 10-INR 15 at INR 4,000-INR 4,130 per 100 kg in central Uttar Pradesh

-Flat at INR 4,072-INR 4,132 per 100 kg in Kolhapur, Maharashtra

-Flat at INR 3,972-INR 4,070 per 100 kg in Mumbai, Maharashtra

At 1524 IST, sugar prices on the Intercontinental Exchange were down 0.3% at 19.91 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 would be more profitable than producing ethanol. The possibility of higher availability of sugar weighed on global prices.  End

US$1 = INR 86.57

Edited by Avishek Dutta

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