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Informist, Friday, Mar. 21, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh were steady on Friday, while those in Maharashtra slightly fell in some areas and were steady in others, said traders. There was sluggish demand for sugar and mills were also in a hurry to offload stocks, they said.

Mills in Uttar Pradesh kept prices steady Friday due to sluggish dmenad, said Naresh Gupta, a trader from north India. In the resale markets, however, prices fell by INR 5-INR 10 per 100 kg due to poor demand, he said. 

Prices are likely to remain at current levels for the next few days, but if there is selling pressure, mills may cut prices in the coming days, Gupta said. However, prices could increase again if mills are able to sell the remaining sugar within the next two to three days, he said.

Prices of the sweetener were steady in markets of Mumbai as demand and supply were on par, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. But prices fell by INR 5 per 100 kg as mills were in a hurry to offload stocks, Kuvadia said. Prices are likely to remain at current levels for the rest of the month and there will be movement in prices only after the sales quota for April is announced by the government, he added.

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

--Flat at INR 3,960-INR 4,075 per 100 kg in western Uttar Pradesh

--Flat at INR 4,000-INR 4,130 per 100 kg in central Uttar Pradesh

--Down INR 5 at INR 4,068-INR 4,127 per 100 kg in Kolhapur, Maharashtra

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

At 1617 IST, sugar prices on the Intercontinental Exchange were down 0.1% at 19.98 cents per pound, tracking losses in crude oil prices on the New York Mercantile Exchange. Higher crude oil prices discourage diversion of sugarcane towards production of ethanol, leading to a rise in sugar supplies.  End

US$1 = INR 85.97

Edited by Avishek Dutta

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