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Informist, Thursday, May 29, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill sugar prices remained largely stable in key markets of Uttar Pradesh and Maharashtra Thursday, traders said. Prices are expected to hold steady over the next two days as most mills have already met their monthly sales quota and are not in a rush to sell, they said.

Mills across Uttar Pradesh kept price largely steady as they were not in a hurry to sell after having already sold most of their May quota, said Naresh Gupta, a trader from north India. Except, only one or two mills in central part of the state that cut prices by INR 40-INR 50 per 100 kg as they were to meet the quota, but that did not have any impact on the average prices of sugar on Thursday, Gupta said.

In Uttar Pradesh, mills maintained steady prices after having sold the bulk of their May quota, said Naresh Gupta. Only a few mills in the central part of the state cut prices by INR 40–INR 50 per 100 kilogram to meet their remaining quota, but this had little effect on overall market prices, he said. The reduced prices generated good demand and resale markets in the state also trimmed rates by INR 10 per 100 kg, Gupta added. 

The centre has set the domestic sugar sales quota for June at 2.30 million tonnes, the Department of Food and Public Distribution said in a post on the social media platform X on Wednesday. The quota for June is down 2.1% from 2.35 million tonnes in May and nearly 10% from 2.55 million tonnes in June last year. The quota is likely to be sufficient for June and prices are likely to remain at the current levels during the month, Gupta said.

Mills in Maharashtra kept prices steady owing to demand-supply parity, said Mukesh Kuvadia, secretary of Bombay Sugar Merchants Association. Prices also remained stable due to lack of cues, he added.

During the coming month, prices are likely to fall after the initial usual hike at the start of the month, said Kuvadia. Demand typically softens in June because of cooler temperatures with the onset of the monsoon, he added. 

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 1512 IST, sugar prices on the Intercontinental Exchange were steady at 16.9 cents per pound.  End

US$1 = INR 85.50

Edited by Subhojit Sarkar

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