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Informist, Wednesday, May 7, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady Wednesday, said traders. Prices in Uttar Pradesh were unchanged as demand has not picked up despite lower prices. In Maharashtra, prices remained steady as demand and supply were at par.

Mills across Uttar Pradesh kept prices steady as demand did not improve even after cutting rates, said Naresh Gupta, a trader from north India. Mills had cut prices Tuesday by INR 40 per 100 kilograms due to poor demand. In the resale markets of Uttar Pradesh, prices fell by INR 5-INR 10 per 100 kg, again due to sluggish demand, Gupta said.

Last week, mills had raised prices by INR 25-INR 35 per 100 kg as they considered the sales quota of 2.35 million tonnes for May to be insufficient. However, the higher prices could not hold as there was no demand for the sweetener. Typically, demand from institutional buyers, including ice cream and cold-drink manufacturers, increases during summer. But demand for sugar has been low this summer due to availability of healthier substitutes of ice creams and beverages, Gupta said.

Sugar prices in Maharashtra were flat Wednesday as demand was at 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:

--Flat at INR 3,875-INR 4,040 per 100 kg in western Uttar Pradesh

--Flat at INR 3,880-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 1715 IST, sugar prices on the Intercontinental Exchange were down 1.6% at 17.16 cents per pound. Expectations of higher sugar production in Brazil weighed on global prices. UNICA, the Brazilian sugar industry association, said that Brazil centre-south sugar production for the first half of April rose 1.3% on year to 731,000 tonnes.  End

Edited by Nishant Maher

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