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Informist, Friday, May 30, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady on Friday, as there was no pressure to offload stocks as they have already met the sales quota for the month, said traders. Prices are likely to remain at the current levels during next month as well, they said.

Mills across Uttar Pradesh kept prices 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. Moreover, demand did not pick up after the release of the sales quota for June, Gupta said.

The Centre has set the domestic sugar sales quota for June at 2.30 million tonnes, down 2.1% from 2.35 million tonnes in May and nearly 10% from 2.55 million tonnes in June last year. Demand typically softens in June because of cooler temperatures with the onset of the monsoon, he added. 

On Thursday, some mills in the central part of the state had cut prices by INR 40–INR 50 per 100 kilogram to meet their remaining quota. 

Mills in Maharashtra kept prices steady owing to demand-supply parity, said Mukesh Kuvadia, secretary of the 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 rise at the start of the month, said Kuvadia.

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 1621 IST, sugar prices on the Intercontinental Exchange were up 1.2% at 17.20 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 supply.  End

US$1 = INR 85.57

Edited by Saji George Titus

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