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Informist, Friday, Aug. 8, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key market of Uttar Pradesh fell, while those in Maharashtra were steady, said traders. Sugar prices had risen significantly after the release of the sales quota, as the monthly quota was considered insufficient, but demand has fallen at higher price levels, they said. 

Most mills in Uttar Pradesh cut prices by INR 20-INR 25 per 100 kg as demand was sluggish at higher prices levels, said Naresh Gupta, a trader from north India. There was littile demand even at lower levels, Gupta said. One or two mills in western Uttar Pradesh also raised rates by INR 10 per 100 kg, but there was no buying at those price levels, he added.

After the release of the sales quota for August, prices rose nearly INR 90-INR 100 per 100 kg as the quota was deemed to be insufficient to meet demand during the month. But after the initial spike in demand at the start of the month due to speculation of lower availability, demand became sluggish and prices did not sustain at higher levels, Gupta said. 

Mills in Maharashtra 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:

--Down INR 20-INR 25 at INR 3,895-INR 4,005 per 100 kilograms in western Uttar Pradesh

--Down INR 20-INR 25 at INR 3,915-INR 4,035 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 1926 IST, sugar prices on the Intercontinental Exchange were up nearly 2% at 16.29 cents per pound, tracking a rise in crude oil prices. Higher crude oil prices encourage diversion of sucrose for ethanol production, thereby reducing sugar production.  End

US$1 = INR 87.66

Edited by Avishek Dutta

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