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Informist, Monday, Apr. 7, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh fell significantly Monday due to sluggish demand. Prices in Maharashtra were steady, said traders, adding that prices might fall further as demand is unlikely to pick up.

Mills in Uttar Pradesh cut prices by INR 60-INR 70 per 100 kg due to poor demand, said Naresh Gupta, a trader from north India. There was some demand at the reduced price levels, he said. Usually, there is firm demand in April from institutional buyers including ice cream and soft drink makers, bulk consumers of the sweetener. But it is yet to pick up, Gupta added.

After the release of the sales quota for April, prices rose by INR 40 per 100 kg as the quota of 2.35 million tonnes was deemed to be insufficient for the month. The government has set the domestic sugar sales quota for April at 2.35 million tonnes, down 6% from 2.50 million tonnes same month last year.

Mills in Maharashtra kept sugar prices steady Monday as demand and supply were on par, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. He said prices are likely to remain range bound in the near term. 

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

--Down INR 60-INR 70 at INR 3,870-INR 4,000 per 100 kg in western Uttar Pradesh

--Down INR 60-INR 70 at INR 3,880-INR 4,065 per 100 kg in central Uttar Pradesh

--Flat at INR 3,810-INR 3,880 per 100 kg in Kolhapur, Maharashtra

--Flat at INR 4,036-INR 4,142 per 100 kg in Mumbai, Maharashtra

At 1939 IST, sugar prices on the Intercontinental Exchange were up 0.1% at 18.95 cents per pound. Signs of lower global sugar production are supportive of prices. On Mar. 12, the Indian Sugar and Bio-energy Manufacturers Association cut its 2024-25 India sugar production forecast to 26.4 million tonnes from a January forecast of 27.2 million tonnes, citing lower cane yields.  End

US$1 = INR 85.83

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

Edited by Nishant Maher

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