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Informist, Friday, May 16, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar fell in the key markets of Uttar Pradesh on Friday due to poor demand, traders said. Prices were steady in Maharashtra due to balanced demand and supply, they said.

Mills across Uttar Pradesh cut prices by INR 15-INR 20 per 100 kg, as there was no demand at elevated price levels, Naresh Gupta, a trader from north India, said. 

Mills had raised prices by INR 40-INR 50 per 100 kg earlier, as they still have time to meet the monthly sales quota. However, mills had to cut back prices as demand did not pick up, Gupta said. 

Prices in the resale markets in Uttar Pradesh 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. The downtrend is likely to continue as demand is unlikely to pick up in the coming days, Gupta said.

Sweetener prices were flat in Maharashtra as demand was on par with supply, Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. Mills are under no pressure to meet monthly sales quota yet, but prices could fall in the coming days as demand is weak, Kuvadia said.

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

--Down INR 15-INR 20 at INR 3,890-INR 4,020 per 100 kg in western Uttar Pradesh

--Down INR 15-INR 20 at INR 3,890-INR 4,020 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 1823 IST, sugar prices on the Intercontinental Exchange were up 0.1% at 17.68 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 85.50

Edited by Saji George Titus

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