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Informist, Tuesday, Jun. 17, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar remained steady in key markets of Uttar Pradesh and Maharashtra Tuesday, traders said. Demand is weak because of the onset of the southwest monsoon, with no institutional buyers currently active and only limited household demand, they said.

Mills across Uttar Pradesh kept prices steady, said Naresh Gupta, a trader from north India. On Monday, mills had raised prices by INR 20–25 per 100 kg after having cut rates significantly since the beginning of the month. However, demand was poor at the increased rates. Prices in the resale market fell another INR 10-INR 15 per 100 kg Tuesday, Gupta said.

There is no demand from bulk consumers of sugar such as ice-cream and cold-drink manufacturers because of the onset of the monsoon in many parts of the country. Additionally, there is no festival or wedding demand at the moment. Moreover, traders are reluctant to keep stocks in the pipeline as sugar tends to absorb moisture and spoil easily during the rainy season, Gupta said. There is only very little household demand at the moment, he added.

Mills in Maharashtra held prices steady, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. The downward trend in prices may continue, as demand from ice-cream and cold-drink manufacturers has declined with the arrival of the monsoon and cooler temperatures, he said. Demand for sugar is typically lower this month, he added.

Availability of healthier alternatives like jaggery is further reducing sugar demand. With no major festivals this month, there is no demand from confectioners either, Kuvadia added.

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

--Flat at INR 3,830-INR 3,940 per 100 kg in west Uttar Pradesh
--Flat at INR 3,830-INR 3,940 per 100 kg in central Uttar Pradesh
--Flat at INR 3,800-INR 3,850 per 100 kg in Kolhapur
--Flat at INR 3,963-INR 4,052 per 100 kg in Mumbai

At 1757 IST, sugar prices on the Intercontinental Exchange were down 2% at 16.21 cents per pound. Expectations of a global sugar surplus in key producing countries, including India, this year are preventing prices rising further, according to analysts.  End

US$1 = INR 86.24

Edited by Subhojit Sarkar

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