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Informist, Tuesday, Jun. 3, 2025

By Taniva Singha Roy

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

Mills across Uttar Pradesh cut prices by INR 20-INR 25 per 100 kilograms due to sluggish demand, said Naresh Gupta, a trader from northern India, adding that the downtrend could continue as demand is unlikely to pick up in the coming days.

There is not much demand even at the start of the month, as wholesalers are yet to exhaust the stocks in the pipeline. Demand typically falls in June as onset of monsoon cools down temperature after the summer season, Gupta added. In summer, demand for sugar rises from cold-drink and ice-cream makers.

Mills in Maharashtra kept prices steady Tuesday as demand remained subdued amid an adequate sales quota. Mills had cut rates by INR 5 per 100 kg the previous day, 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, Kuvadia added.

The Centre has set the domestic sugar sales quota for June at 2.30 million tonnes, 2.1% lower from 2.35 million tonnes in May and nearly 10% lower from 2.55 million tonnes in June last year.

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

--Down INR 20-INR 25 at INR 3,850-INR 3,970 per 100 kg in West Uttar Pradesh

--Down INR 20-INR 25 at INR 3,850-INR 3,970 per 100 kg in central Uttar Pradesh

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

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

At 1725 IST, sugar prices on the Intercontinental Exchange were steady at 16.89 cents per pound.  End

US$1 = INR 85.59

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Nishant Maher

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