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Informist, Thursday, Jun. 19, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar remained steady in the key markets of Uttar Pradesh and Maharashtra Thursday, said traders. There is very little demand, but mills are not reducing prices as they have already fallen significantly this month, traders said.

Mills in Uttar Pradesh kept prices steady despite poor demand as prices are already lower, said Naresh Gupta, a trader from north India. In the resale market, too, prices were largely steady, Gupta said. 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.

This month, mills in Uttar Pradesh have already lowered prices by INR 70-INR 80 per 100 kg, Gupta said. Demand is need based as resellers are hesitant to stock up sugar as it absorbs moisture and gets spoiled during the monsoon, he added.

Mills in Maharashtra also 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 1733 IST, sugar prices on the Intercontinental Exchange were down 1% at 16.35 cents per pound. Expectations of a global sugar surplus in key producing countries, including India, this year are preventing prices from rising further, according to analysts.  End

US$1 = INR 86.72

Edited by Ashish Shirke

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