India Sugar
Steady in north; up in Maharashtra on lower sales quota
This story was originally published at 18:29 IST on 28 March 2025
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By Taniva Singha Roy
MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh were steady on Friday as there was little demand, said traders. Mills in Maharashtra raised prices as the sales quota for April is deemed to be lower, they said.
Mills in Uttar Pradesh kept sugar prices steady as demand is subdued at this time, with the financial year coming to an end, said Naresh Gupta, a trader from north India. Prices were higher by INR 40 per 100 kg the previous day due to anticipation of lower supply, he said.
Prices are likely to rise in the coming days as demand is usually higher in April as summer peaks and there is strong demand for ice-cream and cold-drinks, which leads to an increase in demand for sugar, Gupta said. Prices can rise by INR 20-30 per 100 kg from the current levels in the coming days, said Gupta.
In Maharashtra, sugar prices rose by INR 20 per 100 kg as the sales quota of 2.35 million tonnes is deemed to be insufficient to meet the demand next month, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
Following are the highlights of sugar prices in the domestic market:
--Flat at INR 3,905-INR 4,035 per 100 kg in western Uttar Pradesh
--Flat at INR 3,905-INR 4,065 per 100 kg in central Uttar Pradesh
--Up INR 20 at INR 3,840-INR 3,890 per 100 kg in Kolhapur, Maharashtra
--Up INR 20 at INR 4,052-INR 4,142 per 100 kg in Mumbai, Maharashtra
At 1651 IST, sugar prices on the Intercontinental Exchange were down 0.4% at 19.02 cents per pound, tracking fall 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 85.47
Edited by Ashish Shirke
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