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Informist, Wednesday, May 14, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady on Wednesday, traders said. The price of sugar can fall in the coming days as demand for the sweetener has remained sluggish throughout the country, they said.

Mills across Uttar Pradesh kept prices steady on Wednesday after raising prices for two consecutive days, Naresh Gupta, a north India-based trader, said. Though mills are not in a hurry to meet the monthly sales quota, they did not hike prices further as demand was sluggish, Gupta said.

In the resale markets of Uttar Pradesh, prices fell by INR 5-INR 10 per 100 kg due to poor demand, Gupta said. Mills may cut prices in the coming days as demand is unlikely to pick up, he added. However, if there is demand from Rajasthan in the next few days, mills could increase prices, he said.

Typically, demand from institutional buyers, including ice cream and cold-drink manufacturers, increases during summer months. But, demand for sugar has been low this summer, Gupta said.

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

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

--Flat at INR 3,880-INR 4,040 per 100 kg in western Uttar Pradesh

--Flat at INR 3,880-INR 4,040 per 100 kg in central Uttar Pradesh

--Flat at INR 3,840-INR 3,880 per 100 kg in Kolhapur, Maharashtra

--Flat at INR 4,012-INR 4,072 per 100 kg in Mumbai, Maharashtra

At 2023 IST, sugar prices on the Intercontinental Exchange were down 1% at 18.14 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 85.27

Edited by Saji George Titus

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