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Informist, Friday, Aug. 1, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in the key markets of Maharashtra rose on Friday but were steady in Uttar Pradesh, said traders. Prices in Maharashtra rose as mills had kept prices steady the previous day and there was good demand at those price levels, they said.

 

Mills in Maharashtra raised prices by INR 30 per 100 kg as there was good demand ahead of the upcoming festivals, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices have risen substantially after the release of the sales quota for August. Since the announcement of the August sales quota Monday, sugar prices have risen by about INR 70 per 100 kg, Kuvadia said.

 

The government has set the August sales quota for sugar mills at 2.20 million tonnes, below market expectations of 2.35 million tonnes to 2.40 million tonnes. Since demand for the sweetener typically rises ahead of festivals like Durga Ashtami, Raksha Bandhan, Krishna Janmashtami, Ganesh Chaturthi, and Onam, many of which are lined up in August, the quota is deemed to be insufficient.

 

Mills in Uttar Pradesh kept prices steady on Friday after increasing rates by INR 10-INR 15 per 100 kg during the previous day, said Naresh Gupta, a trader from north India. Prices have already risen by INR 60-INR 70 since the release of the sales quota for August and are likely to increase further as there is going to be firm demand for some time now, Gupta added.

 

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

--Flat at INR 3,915-INR 4,030 per 100 kg in western Uttar Pradesh

--Flat at INR 3,935-INR 4,060 per 100 kg in central Uttar Pradesh

--Up INR 30 at INR 4,062-NR 4,162 per 100 kg in Mumbai

--Up INR 30 at INR 3,930-INR 3,990 per 100 kg in Kolhapur

 

At 1948 IST, sugar prices on the Intercontinental Exchange were down 0.3% at 16.30 cents per pound, tracking the fall in crude oil prices. Lower crude oil prices discourage the diversion of sucrose for ethanol production, thereby increasing sugar production.  End

 

US$1 = INR 87.54

 

Edited by Deepshikha Bhardwaj

 

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