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Informist, Thursday, Apr. 24, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar were steady on Thursday in key markets of Uttar Pradesh and Maharashtra, traders said. In Uttar Pradesh, mills may raise prices in the coming days as most have nearly met their monthly sales quota and are in no rush to sell. In contrast, mills in Maharashtra are likely to maintain current price levels for the rest of the month due to subdued demand, they said.

Mills in Uttar Pradesh kept prices unchanged on Thursday after raising prices by INR 20 per 100 kg the previous day, said Naresh Gupta, a trader based in northern India. Prices in the resale market also held steady, he said. As most mills have used their quota, they are currently holding back on sales, which could lead to a price increase if there is even a slight uptick in demand, Gupta said.

Overall demand remained weak and purchases are yet to reach the levels normally seen during the summer months, Gupta noted. April usually brings a rise in sugar sales due to increased demand from soft drink and ice-cream makers. Meanwhile, mills are awaiting the release of their sales quota for May, which the market expects to be slightly higher than April, he added.

In Maharashtra, mills kept prices steady on Wednesday as well, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. He said demand remains weak and is unlikely to improve for the rest of the month. Any significant price movement is expected only after the May sales quota is released, Kuvadia added.

The following are the highlights of sugar prices in the domestic market:

--Flat at INR 3,920-INR 4,040 per 100 kg in western Uttar Pradesh

--Flat at INR 3,920-INR 4,040 per 100 kg in central Uttar Pradesh

--Flat at INR 3,800-INR 3,855 per 100 kg in Kolhapur, Maharashtra

--Flat at INR 4,006-INR 4,082 per 100 kg in Mumbai, Maharashtra

At 1720 IST, sugar prices on the Intercontinental Exchange were steady at 17.80 cents per pound.  End

US$1 = INR 85.26

Edited by Subhojit Sarkar

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