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Informist, Tuesday, Jun. 10, 2025

By J. Navya Sruthi and Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in key markets of Maharashtra fell Tuesday on sluggish demand, traders said. Prices in Uttar Pradesh were steady despite sluggish demand as mills waited to see if demand picks up at current rates, they said.

Mills in Maharashtra cut prices by INR 10 per 100 kg owing to poor demand, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices fell as there was no demand from ice-cream and cold-drink manufacturers with summer slowly coming to an end with the arrival of the southwest monsoon, said Kuvadia. Demand for sugar is typically lower during this month, he said.

Demand for sugar is also less on account of the availability of healthier alternatives such as jaggery, he said. Moreover, there is no festival this month, so there is no demand from confectioneries, Kuvadia said.

In Uttar Pradesh, prices of the sweetener were steady as mills waited to see if demand picks up at current rates, said Naresh Gupta, a trader from north India. The resale markets in the state, however, cut prices by INR 5-INR 10 per 100 kg on poor demand, said Gupta. The downtrend is likely to continue as mills are under pressure to offload the sales quota for the month amid sluggish demand, he added.

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

--Flat at INR 3,850-INR 3,950 per 100 kg in west Uttar Pradesh
--Flat at INR 3,850-INR 3,950 per 100 kg in central Uttar Pradesh
--Down INR 10 at INR 3,800-INR 3,850 per 100 kg in Kolhapur
--Down INR 10 at INR 3,963-INR 4,052 per 100 kg in Mumbai

At 1920 IST, sugar prices on the Intercontinental Exchange were up slightly at 16.79 cents per pound. Sugar prices rose slightly tracking crude oil prices. Higher crude oil prices prompt mills to divert more sugarcane towards ethanol production rather than sugar, reducing sugar supplies. However, expectations of a global sugar surplus in key producing countries, including India, this year are preventing prices rising further.  End

US$1 = INR 85.60

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

Edited by Rajeev Pai

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