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Informist, Monday, Mar. 24, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar fell in the key markets of Uttar Pradesh Monday due to poor demand, and also as mills were in a hurry to meet the monthly sales quota, said traders. Mills in Maharashtra kept prices steady, as millers await the release of sales quota for the next month, they said.

Mills in western Uttar Pradesh cut prices by INR 20-INR 30 per 100 kilograms, while those in central part of the state cut prices by INR 25-INR 35 per 100 kg, due to subdued demand, as well as pressure to meet the sales quota for March before the month ends, said Naresh Gupta, a trader from north India. 

Prices may fall further, if there is still no demand at the current levels, said Gupta. However, prices could increase if mills are able to sell the remaining sugar within the next two to three days, he added.

Prices of the sweetener were steady in markets of Maharashtra as demand and supply were on a 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 and there will be movement in prices only after the sales quota for April is announced by the government, he added.

Market participants are expecting a sales quota of 2.4-2.5 million tonnes for April this time, said Kuvadia. If the quota is 2.4 million tonnes, prices are likely to remain steady, but if the quota is around 2.5 million tonnes, prices could fall, Kuvadia added.

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

--Down INR 20-INR 30 at INR 3,890-INR 4,020 per 100 kg in western Uttar Pradesh

--Down INR 25-INR 35 at INR 3,890-INR 4,050 per 100 kg in central Uttar Pradesh

--Flat 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 1622 IST, sugar prices on the Intercontinental Exchange were down 0.4% at 19.65 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 85.63

Edited by Nishant Maher

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