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Informist, Monday, Jun. 2, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar fell in the key markets of Uttar Pradesh and Maharashtra on Monday due to sluggish demand, said traders. Prices are likely to fall further as the sales quota for the month is sufficient and demand is less, they said.

Mills in central Uttar Pradesh cut prices by INR 10-INR 20 per 100 kg due to poor demand, said Naresh Gupta, a trader from north India. There is not much demand even at the start of the month, as wholesalers are yet to exhaust the stocks in the pipeline, said Gupta.

Demand typically falls in June as onset of the monsoon leads to cooler temperature, Gupta added. Mills in other parts of the state kept prices steady to see if demand picks up at the earlier reduced levels, he said.

Prices of the sweetener in Maharashtra were lower by INR 5 per 100 kg due to subdued demand amid adequate sales quota for June, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to fall further by INR 5-INR 10 per 100 kg as demand is likely to remain subdued, Guta 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. 

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

--Down INR 10-INR 20 at INR 3,850-INR 3,970 per 100 kg in central Uttar Pradesh

--Down INR 5 at INR 3,835-INR 3,875 per 100 kg in Kolhapur, Maharashtra

--Down INR 5 at INR 4,007-INR 4,067 per 100 kg in Mumbai, Maharashtra

At 1618 IST, sugar prices on the Intercontinental Exchange were up 1% at 17.21 cents per pound, tracking a rise in crude oil prices on the New York Mercantile Exchange. Rise in crude oil prices encourages diversion of sugarcane for production of ethanol, leading to a fall in sugar supply.  End

US$1 = INR 85.38

Edited by Ashish Shirke

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