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Informist, Monday, May 5, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in Uttar Pradesh fell on Monday due to poor demand at higher prices, traders said. Prices, however, were flat in Maharashtra as demand and supply were on par, they said.

Some mills across Uttar Pradesh cut prices by INR 30-INR 40 per 100 kg due to poor demand at higher rates, Naresh Gupta, a trader from north India, said. Mills had raised prices by INR 25-INR 35 per 100 kg last week as the monthly sales quota of 2.35 million tonnes in May was considered insufficient, Gupta said. 

The government fixes a cap on the amount of sugar that mills can sell each month to help maintain prices and assist mills in clearing arrears owed to sugarcane farmers. The government has set the monthly sales quota for May at 2.35 million tonnes, unchanged from April, but nearly 13% lower than the 2.70 million tonnes a year ago.

Typically, demand from institutional buyers, including ice-cream and cold drink manufacturers, increases during summer months.

Sugar prices in the resale markets of Uttar Pradesh fell INR 10-INR 15 per 100 kg due to poor demand, Gupta said. Prices are likely to continue the downtrend as demand is unlikely to pick up, Gupta said. Due to awareness about health and availability of healthier substitutes, the demand for sugar is lower, he said.

Sugar prices in Maharashtra were flat on Monday, as demand was on par with supply, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to remain at the current levels, as demand is unlikely to pick up, Kuvadia said.

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

--Down INR 30-INR 40 at INR 3,900-INR 4,030 per 100 kg in western Uttar Pradesh

--Down INR 30-INR 40 at INR 3,900-INR 4,050 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 1915 IST, sugar prices on the Intercontinental Exchange were up 1.6% at 17.48 cents per pound. End

US$1 = INR 84.25

Edited by Saji George Titus

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