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Informist, Thursday, Jul. 24, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady on Thursday amid sluggish demand, traders said. Prices could rise ahead of the festival season, they said.

Mills across Uttar Pradesh kept prices steady again on Thursday as there was little demand, said Naresh Gupta, a trader from north India. Prices will rise when demand increases in the next few days with avaiability of trucks, Gupta said. There will be firm demand as the resale market would have exhausted stocks in the pipeline, he said. At the moment, there is no demand due to unavailability of trucks to transport stocks.

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 lower temperatures.

In Maharashtra, prices of the sweetener were steady in key markets on Thursday, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices could rise ahead of the festival season, he said. Mills are also awaiting the release of the sales quota for August, Kuvadia added.

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

--Flat at INR 3,870-INR 4,000 per 100 kg in western Uttar Pradesh

--Flat at INR 3,900-INR 4,020 per 100 kg in central Uttar Pradesh

--Flat at INR 3,980-NR 4,062 per 100 kg in Mumbai

--Flat at INR 3,840-INR 3,910 per 100 kg in Kolhapur

At 1926 IST, sugar prices on the Intercontinental Exchange were up nearly 2% at 16.54 cents per pound. Sugar prices rose, tracking a rise in crude oil prices. Higher crude oil prices lead to diversion of sucrose for ethanol production, thereby reducing sugar production.  End

US$1 = INR 86.40

Edited by Avishek Dutta

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