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Informist, Monday, May 12, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill sugar prices rose in the key markets of Uttar Pradesh on Monday despite weak demand, said traders. Prices were steady in Maharashtra as demand and supply were on par, they said.

Mills in Uttar Pradesh raised prices by INR 25 per 100 kg, Naresh Gupta, a trader from north India, said. But there was no demand at the higher price levels, Gupta said. Prices in the resale markets of Uttar Pradesh also rose by INR 5-INR 10 per 100 kg, he said.

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 for ice cream and beverages, Gupta said.

Prices can increase further if there is demand from Rajasthan in the next few days, Gupta said. Mills have raised prices despite poor demand as they are not in a hurry to meet the sales quota, he added.

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:

--Up INR 25 at INR 3,890-INR 4,025 per 100 kg in western Uttar Pradesh

--Up INR 25 at INR 3,890-INR 4,025 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 1618 IST, sugar prices on the Intercontinental Exchange were up 1.4% at 18.03 cents per pound, tracking a rise in crude oil prices on the New York Mercantile Exchange. Higher crude oil prices encourage diversion of sugarcane for the production of ethanol, leading to a fall in sugar supplies.  End

US$1 = INR 85.37

Edited by Saji George Titus

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