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Informist, Wednesday, Jun. 18, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra remained steady Wednesday despite poor demand as mills are waiting to see if there is some demand at the already low rates, said traders. However, purchases are unlikely to pick up as there is no demand from bulk consumers of sugar during the monsoon season, they said.

Mills in Maharashtra kept prices steady as there was very little demand at the raised prices, 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. There is no demand from bulk consumers of sugar such as ice-cream and cold-drink makers because of the onset of monsoon in many parts of the country. Moreover, there is no festival or wedding demand at the moment.

In the resale market, prices were down by INR 5-INR 10 per 100 kg, as there was no demand. Resellers are hesitant to stock up sugar as it absorbs moisture and gets spoiled during the monsoon, Gupta said.

Mills in Maharashtra held prices steady, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to remain at the current levels as demand is unlikely to pick up this month, Kuvadia said. Demand for sugar is typically lower this month, he 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 1549 IST, sugar prices on the Intercontinental Exchange were down 1.5% at 16.26 cents per pound. Lower crude oil prices discourage mills from diverting sugarcane towards ethanol production, which in turn increases the supply of sugar.  End

US$1 = INR 86.47

Edited by Ashish Shirke

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