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Informist, Thursday, Aug. 21, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in key markets in Uttar Pradesh and Maharashtra were steady Thursday, traders said. Demand did not rise though prices were lowered Wednesday, they said. Prices may fall further if mills find it difficult to achieve the sales quota set for August, they said.

 

Mills in Uttar Pradesh kept prices steady Thursday as demand did not pick up even at the reduced prices, said Naresh Gupta, a trader from north India. Mills had cut prices the previous day by INR 15-INR 20 per 100 kg due to sluggish demand. In resale markets, sugar prices fell INR 5-INR 10 per 100 kg, Gupta added.

 

After the initial rise in sugar prices of about INR 90-INR 100 per 100 kg after the August sales quota was announced, prices fell by about INR 50 per 100 kg as demand became subdued after the surge at the start of the month.

 

Prices of the sweetener in Maharashtra were steady on limited buying, Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. Prices will remain at current levels for 4-5 days after demand fell following heavy rains in Maharashtra, he said. The demand scenario will clear up only after the rainfall eases, he said.

 

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

--Flat at INR 3,910-INR 4,015 per 100 kg in western Uttar Pradesh

--Flat at INR 3,920-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 1758 IST, the price of sugar on the Intercontinental Exchange was down nearly 1% at 16.41 cents per pound. India may allow local mills to export sugar in the next season, which starts in October, as abundant monsoon rains may result in a bumper sugarcane crop, according to market participants. The outlook for higher sugar exports from India is negative for global sugar prices.  End

 

US$1 = INR 87.27

 

Edited by Rajeev Pai

 

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