India Sugar
Up in north as demand picks up slightly, steady in Maharashtra
This story was originally published at 17:26 IST on 25 April 2025
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By Taniva Singha Roy
MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh rose on Friday, as demand picked up slightly, said traders. Mills in Maharashtra, however, kept prices steady as demand was muted, they said.
Mills across Uttar Pradesh raised prices by INR 5-10 per 100 kg as demand improved slightly, said Naresh Gupta, a trader from north India. Moreover, mills were not in a hurry to offload stocks as most of them have already met their monthly sales quota, said Gupta. In the resale market, too, prices rose by INR 5-INR 10 per 100 kg, he added.
Mills are now awaiting the release of the sales quota for May. Market participants are of the view that the quota will be the same as for April or slightly higher, and in both cases, prices will remain stable as demand has been bleak for some time, Gupta added.
Mills in Maharashtra kept prices steady, despite sluggish demand, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. He said demand would remain 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 said.
The following are the highlights of sugar prices in the domestic market:
--Up INR 5-INR 10 at INR 3,920-INR 4,050 per 100 kg in western Uttar Pradesh
--Up INR 5-INR 10 at INR 3,920-INR 4,050 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 1656 IST, sugar prices on the Intercontinental Exchange were up 0.4% at 17.92 cents per pound. UNICA, a Brazilian sugar industry associate, said the cumulative 2024-25 sugar output in Brazil's centre-south through March fell 5.3% on year to 40.1 million tonnes. End
US$1 = INR 85.45
Edited by Avishek Dutta
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