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Informist, Wednesday, Apr. 30, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady Wednesday as demand was limited, said traders. Prices could rise in the days to come as demand is expected to increase with temperatures rising, they said.

Mills in Uttar Pradesh kept prices steady Wednesday after raising them by INR 25-INR 35 per 100 kg the previous day. Prices rose initially after the government Monday set the sales quota for May. The quota of 2.35 million tonnes was seen to be insufficient, given that demand from institutional buyers, including ice-cream and cold drink manufacturers, is particularly high in May, said Naresh Gupta, a trader from north India. 

But after the initial rise, prices have been steady as demand was limited, Gupta said. However, he added that demand could increase in the next few days as speculators are really active at the begining of the month, and there could be bulk demand due to concerns about lower avaiability during the month. 

Prices of sugar in Maharashtra were also steady Wednesday because of limited buying, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Mills in Maharashtra had raised prices by INR 30 per 100 kg after the release of the sales quota, he said. Prices are likely to rise further in the coming days as demand picks up, he added.

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

--Flat at INR 3,950-INR 4,080 per 100 kg in western Uttar Pradesh

--Flat at INR 3,950-INR 4,080 per 100 kg in central Uttar Pradesh

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

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

At 2109 IST, sugar prices on the Intercontinental Exchange were down 1.5% at 17.28 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 84.48

Edited by Rajeev Pai

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