More Stories

Informist, Monday, May 19, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in key markets of Uttar Pradesh and Maharashtra were steady Monday despite poor demand as mills were in no hurry to sell, traders said. Mills may cut prices in the coming days as demand is unlikely to pick up, they said.

Mills in Uttar Pradesh kept prices steady despite sluggish demand as they were not in a hurry to meet the sales quota yet, said Naresh Gupta, a trader from north India. Mills across Uttar Pradesh had cut prices by INR 15-INR 20 per 100 kg the previous day but there was still no demand. If prices fall by another INR 10-INR 15 per 100 kg in the coming days, demand could pick up, Gupta said.

Prices in resale markets in Uttar Pradesh fell by INR 10-INR 15 per 100 kg due to poor demand, Gupta said. The downtrend is likely to continue as demand is unlikely to pick up in the coming days, Gupta said.

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

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

--Flat at INR 3,890-INR 4,020 per 100 kg in western Uttar Pradesh

--Flat 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 1544 IST, sugar prices on the Intercontinental Exchange were down 0.5% at 17.43 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 85.40

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Nishant Maher

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.