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Informist, Monday, Aug. 18, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra were steady as demand was limited, said traders. Prices are likely to remain at current levels for a few days as demand is unlikely to pick up, they said.

 

Mills in Uttar Pradesh kept prices steady due to need-based buying, said Naresh Gupta, a trader from north India. Prices have fallen from peak levels by INR 20-INR 25 per 100 kg, he said. Following the release of the sales quota for August, prices had risen nearly INR 90-INR 100 per 100 kg as the quota was deemed to be insufficient to meet the demand ahead of upcoming festivals during the month. However, 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.

 

Prices of the sweetener in Maharashtra were steady due to limited buying, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. As prices had risen by INR 10-INR 15 per 100 kg the previous working day, there was low demand at the elevated prices, Kuvadia added. 

 

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

--Flat at INR 3,925-INR 4,025 per 100 kilograms in western Uttar Pradesh

--Flat at INR 3,925-INR 4,025 per 100 kg in central Uttar Pradesh

--Flat at INR 4,092-NR 4,182 per 100 kg in Mumbai

--Flat at INR 3,920-INR 3,980 per 100 kg in Kolhapur

 

At 1809 IST, the price of sugar on the Intercontinental Exchange was down 0.5% at 16.34 cents per pound. India may allow local mills to export sugar in the next season, which starts in October, as abundant monsoon rains may produce a bumper sugar crop, according to market participants. The outlook for higher sugar exports from India is negative for global sugar prices.  End

 

US$1 = INR 87.35

 

Edited by Avishek Dutta

 

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