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Informist, Wednesday, Jun. 4, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh fell again Wednesday as there was no demand even after mills cut rates the previous day, said traders. Prices of the sweetener were steady again in Maharashtra, they said.

Some mills in Uttar Pradesh cut prices again by INR 20-INR 25 per 100 kg on sluggish demand, said Naresh Gupta, a trader from northern India. He said that while some buying was seen at lower rates, prices would continue to fall if demand were to remain sluggish.

There could be some demand from resellers in the coming days if stocks in the pipeline are exhausted, Gupta said. Demand typically falls in June as the onset of the southwest monsoon cools temperatures after the summer season. In summer, demand for sugar shoots up from cold-drink and ice-cream makers.

Mills in Maharashtra kept prices steady Wednesday as demand remained subdued amid an adequate sales quota. Mills had cut rates by INR 5 per 100 kg Monday, 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 than the May quota of 2.35 million tonnes and nearly 10% lower than the quota of 2.55 million tonnes for 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 western 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 1840 IST, sugar prices on the Intercontinental Exchange were steady at 16.98 cents per pound.  End

US$1 = INR 85.90

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

Edited by Nishant Maher

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