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Informist, Monday, May 26, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady on Monday as mills awaited the release of the sales quota for June, traders said. Demand and prices are also likely to remain stable during the next few days, they added.

Mills in Uttar Pradesh kept prices steady as they have sold most of the stocks for May, Naresh Gupta, a trader from north India, said. Mills in Uttar Pradesh had raised prices by INR 15 per 100 kg on Friday after cutting prices during the previous few days, Gupta said.  

In the resale markets in Uttar Pradesh, prices were cut by INR 5-INR 10 per 100 kg, Gupta said. Prices are likely to stabilise at the current levels, Gupta added.

Mills in Maharashtra kept prices steady owing to demand-supply parity, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Millers now await the release of the sales quota for next month, depending on which prices will move, Kuvadia said. For the rest of the month, prices are likely to remain steady due to a lack of cues, he added.

Market participants expect the monthly sales quota in June to be at 2.25 to 2.3 million tonnes, down from 2.35 million tonnes in May, as demand during the month is usually lower owing to temperatures cooling, with the onset of monsoon. 

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

--Flat at INR 3,875-INR 3,985 per 100 kg in western Uttar Pradesh

--Flat at INR 3,875-INR 3,985 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

Sugar prices on the Intercontinental Exchange were unavailable on Monday as markets in the US are shut on account of Memorial Day.  End

US$1 = INR 85.08

Edited by Saji George Titus

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