More Stories

Informist, Tuesday, Apr. 29, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in key markets of Uttar Pradesh and Maharashtra rose on Tuesday due to a lower monthly sales quota, traders said. Prices are expected to rise further, as demand typically peaks during this summer month, they said.

Mills in Uttar Pradesh raised prices by INR 25-INR 35 per 100 kg as the monthly sales quota of 2.35 million tonnes was considered insufficient for May, said Naresh Gupta, a trader from northern India. Demand from institutional buyers, including ice-cream and cold drink manufacturers, is particularly high this month, said Gupta.

The government fixes a cap on the amount of sugar that can be sold each month to help maintain prices and assist mills in clearing arrears owed to sugarcane farmers. The government sets the monthly sales quota for each sugar mill. A lower quota restricts mills from selling sugar they have produced.

Mills in Maharashtra hiked prices by another INR 10 per 100 kg on Tuesday after raising rates by INR 20 per 100 kg the previous day, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to increase further in the coming days as demand is likely to pick up in May, he said.

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

--Up INR 25-INR 35 at INR 3,950-INR 4,080 per 100 kg in western Uttar Pradesh

--Up INR 25-INR 35 at INR 3,950-INR 4,080 per 100 kg in central Uttar Pradesh

--Up INR 10 at INR 3,830-INR 3,885 per 100 kg in Kolhapur, Maharashtra

--Up INR 10 at INR 4,000-INR 4,062 per 100 kg in Mumbai, Maharashtra

At 1801 IST, sugar prices on the Intercontinental Exchange were down 1% at 17.67 cents per pound, tracking a fall in crude oil prices on the New York Mercantile Exchange. Lower crude oil prices discourage diversion of sugarcane for the production of ethanol, leading to a rise in sugar supplies.  End

US$1 = INR 85.26

Edited by Subhojit Sarkar

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.