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Informist, Friday, May 9, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar fell on Friday in key markets of Uttar Pradesh due to sluggish demand, traders said. Prices were steady in Maharashtra, though they could fall in the coming days, they said.

Mills in Uttar Pradesh cut prices by INR 20 per 100 kg due to sluggish demand, Naresh Gupta, a trader from north India, said. Prices have fallen by INR 60-70 per 100 kg after rising initially following the release of the sugar sales quota for May. Initially, market participants felt that the sale quota of 2.35 million tonnes would be insufficient to meet the demand during the month. 

Typically, demand from institutional buyers, including ice cream and cold-drink manufacturers, increases during summer months. However, demand for sugar has been low this summer due to the availability of healthier substitutes of ice cream and beverages, Gupta said.

Moreover, escalation in geopolitical tension between India and Pakistan also weighed on prices. Due to the heavy security on the border, a lot of the sugar that normally goes out of the country illegally, especially to countries such as Bangladesh, has halted, resulting in more domestic availability, Gupta said.

Sugar prices in Maharashtra were flat, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. But prices could fall in the coming days as demand is poor, said Kuvadia.

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

--Down INR 20 at INR 3,860-INR 4,010 per 100 kg in western Uttar Pradesh

--Down INR 20 at INR 3,860-INR 4,010 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 1654 IST, sugar prices on the Intercontinental Exchange were steady at 17.56 cents per pound.  End

US$1 = INR 85.37

Edited by Saji George Titus

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