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Informist, Wednesday, Mar. 26, 2025

By J. Navya Sruthi

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady Wednesday from the previous trading day, traders said. Market is waiting for the release of the sugar sales quota for next month for more cues, traders said.

Prices of the sweetener were steady in markets of Maharashtra due to lack of new cues, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to remain at current levels for the rest of the month, he said, adding that there will be movement in prices only after the sales quota for April is announced by the government.

The Centre is likely to set the sugar sales quota for April somewhere around 2.35 million tonnes to 2.40 million tonnes, up from 2.30 million tonnes in March, according to market participants. With strong demand anticipated in April, particularly from large-scale consumers such as ice cream and soft drink manufacturers as the summer season intensifies, the quota is expected to be higher than the previous months, they said.

The government may announce the April sugar sales quota in the next one or two days. However, this time the quota is unlikely to exceed 2.4 million tonnes, as the government doesn't have sufficient stock, according to Semal Sudhir Jain, secretary of Kolhapur, Karad, and Sangli Sugar Merchant Association.

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

--Flat at INR 3,890-INR 4,020 per 100 kg in western Uttar Pradesh

--Flat at INR 3,890-INR 4,050 per 100 kg in central Uttar Pradesh

--Flat at INR 3,810-INR 3,870 per 100 kg in Kolhapur, Maharashtra

--Flat at INR 4,032-INR 4,122 per 100 kg in Mumbai, Maharashtra

At 1530 IST, sugar prices on the Intercontinental Exchange were down 0.23% at 19.28 cents per pound.  End

US$1 = INR 85.72

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Tanima Banerjee

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