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Informist, Monday, Jul. 21, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh rose due to anticipation of an increase in demand after Kanwar Yatra, traders said. In Maharashtra, sugar prices rose as demand picked up ahead of the festival season, they said.

Mills in Uttar Pradesh raised prices by INR 25-INR 30 per 100 kilograms as mills expect demand to increase after Kanwar Yatra ends, as there will be trucks available for transporting sugar, said Naresg Gupta, a trader from north India. Kanwar Yatra is an annual pilgrimage by devotees to Haridwar, Gaumukh and Gangotri to fetch holy water from the Ganges. 

Mills also raised rates as prices have been at lower levels since the start of the month, Gupta said. Sugar prices have been down due to limited demand from confectioners, he said. Demand from ice cream and soft drink manufacturers has also declined due to cooler temperatures.

In the resale market of Uttar Pradesh, too, prices rose by INR 10-INR 20 per 100 kg in anticipation of an increase in demand, Gupta said.

Mills in Maharashtra raised prices by INR 20-INR 30 per 100 kg as demand is picking up ahead of the festival season, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. "There is demand for sugar from south India at the moment due to festivals," Kuvadia said.

Prices are likely to remain at the current level until mills are under pressure to sell the stocks to meet the monthly sales quota, Kuvadia said. If demand increases, prices could recover further, he added.

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

--Up INR 25-INR 30 at INR 3,870-INR 4,000 per 100 kg in western Uttar Pradesh

--Up INR 25-INR 30 at INR 3,900-INR 4,020 per 100 kg in central Uttar Pradesh

--Up INR 20-INR 30 at INR 3,980-NR 4,062 per 100 kg in Mumbai

--Up INR 20-INR 30 at INR 3,840-INR 3,910 per 100 kg in Kolhapur

At 1939 IST, sugar prices on the Intercontinental Exchange were down 2% at 16.48 cents per pound. Sugar prices fell, tracking a fall in crude oil prices. Lower crude oil prices reduce diversion of sucrose for ethanol production, thereby increasing sugar production.  End

US$1 = INR 86.29

Edited by Saji George Titus

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