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Informist, Wednesday, Jul. 9, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar were steady in the key markets of Uttar Pradesh and Maharashtra on Wednesday, dealers said. Though the demand is muted, mills are holding back from cutting prices as they have already lowered prices after the release of the sales quota for July, they said.

Mills in Uttar Pradesh kept prices steady despite limited demand as prices are already on the lower side, said Naresh Gupta, a trader from northern India. Mills had cut prices following the release of the monthly sales quota on June 26, as 2.2 million tonnes for July was considered more than sufficient, he said. 

The demand is unlikely to increase during the week as traders are not purchasing at the moment due to roads remaining closed in western Uttar Pradesh and some other parts of northern India on account of the Kanwar Yatra starting Friday, when trucks will not be able to deliver the stocks. 

Moreover, due to the ongoing monsoon season, temperature across the country is cooler and there is not much demand for ice-creams and cold drinks, which require sugar in bulk for manufacturing, said Gupta. There are no festivals during this month, so there is limited demand from confectioneries, hence prices are likely to be largely on the lower side during this month, he added.

In Maharashtra, prices of the sweetener were steady due to a lack of fresh cues, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Due to rains across the country, traders are hesitant to stock sugar as it absorbs moisture and gets spoiled, said Kuvadia.

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

--Flat at INR 3,810-INR 3,885 per 100 kg in western Uttar Pradesh

--Flat at INR 3,830-INR 3,915 per 100 kg in central Uttar Pradesh

--Flat at INR 3,942-INR 4,060 per 100 kg in Mumbai

--Flat at INR 3,820-INR 3,880 per 100 kg in Kolhapur

At 1557 IST, sugar prices on the Intercontinental Exchange were up nearly 2% to 16.41 cents per pound. Sugar prices rose, tracking a rise in crude oil prices. Higher crude oil prices make ethanol blending more attractive, thereby reducing sucrose diversion for sugar production.  End

US$1 = INR 85.67

Edited by Saji George Titus

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