India Sugar
Steady in key markets; ICE prices up tracking crude oil prices
This story was originally published at 20:55 IST on 7 August 2025
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By Taniva Singha Roy
MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady for the third consecutive day as markets were not fully functional ahead of the Raksha Bandhan festival, said traders. Moreover, elevated prices of the sweetener also led to demand slowing down in some places, they said.
Mills in Uttar Pradesh kept prices steady Thursday as some resellers kept markets shut ahead of Raksha Bandhan, said Naresh Gupta, a trader from north India. Prices have risen nearly INR 90-INR 100 per 100 kg after the release of the sales quota for August, due to concerns about lower availability of sugar later, said Gupta.
The government's allocation of 2.25 million tonnes of sales quota to sugar factories for August is likely to leave a closing stock of around 6.80 million tonnes at the end of the month, which may create a tight situation with festival demand ahead, according to media reports.
Mills in Maharashtra also kept prices of the sweetener steady as there was not much demand at elevated price levels, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.
The following are the highlights of sugar prices in the domestic market:
--Flat at INR 3,915-INR 4,030 per 100 kilograms in western Uttar Pradesh
--Flat at INR 3,935-INR 4,060 per 100 kg in central Uttar Pradesh
--Flat at INR 4,062-NR 4,162 per 100 kg in Mumbai
--Flat at INR 3,930-INR 3,990 per 100 kg in Kolhapur
At 1852 IST, sugar prices on the Intercontinental Exchange rose nearly 1% to 16.16 cents per pound, tracking the fall in crude oil prices. Higher crude oil prices encourage the diversion of sucrose for ethanol production, thereby decreasing sugar production. End
US$1 = INR 87.70
Edited by Tanima Banerjee
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