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Informist, Wednesday, May 28, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill sugar prices remained steady in key markets of Uttar Pradesh and Maharashtra Wednesday, as mills were in no rush to sell and demand was need based, said traders. Sweetener prices are expected to fluctuate once the government announces the June sales quota, likely within the next two days, they said.

Mills across Uttar Pradesh held prices steady after having already sold most of their May quotas, said Naresh Gupta, a trader from north India. Resale market prices also remained unchanged due to subdued, need-based demand, Gupta said. While sugar prices are likely to remain at current levels, one or two mills that have yet to meet their May quotas may reduce prices, Gupta added.

Mills are now waiting for the June sale quota to release in a day or two, depending on which sweetener prices will fluctuate, he said.

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

As reported earlier by Informist, market participants expect the monthly sales quota in June to be between 2.25 million and 2.30 million tonnes, down from May's 2.35 million tonnes. Demand typically softens in June due to cooler temperatures with the onset of the monsoon. If the quota aligns with expectations, prices are likely to remain steady, Kuvadia said. 

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

At 1451 IST, sugar prices on the Intercontinental Exchange were down 0.5% at 17.14 cents per pound. The US Department of Agriculture, in its biannual report, projected that global 2025-26 sugar production would increase by 4.7% on year to a record 189.31 million tonnes, with a global sugar surplus of 41.18 million tonnes, up 7.5% on year. Higher availability of sugar weighs on its prices.  End

US$1 = INR 85.36

Edited by Subhojit Sarkar

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