India Sugar
Flat in key mkts; ICE dn as world sugar body pegs lower deficit
This story was originally published at 19:02 IST on 29 August 2025
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By Afra Abubacker
MUMBAI – Ex-mill prices of sugar in key markets of Uttar Pradesh and Maharashtra were unchanged on Friday as supplies for September are seen sufficient to meet demand for the month. On Thursday, the government announced the domestic sugar sales quota of 2.35 million tonnes for September, unchanged from last year. The quota is more than 4% higher than the 2.25 million tonnes for August.
"The sales quota is on the higher side of market expectation. But in line with last year," said Naresh Gupta, a trader from north India. In Uttar Pradesh, millers kept sugar prices unchanged amid lack of fresh triggers, added Gupta.
In Maharashtra, sugar prices were steady as quota is seen sufficient for September, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. "There are not many major festivals next month, only Durga Puja is there towards September end," he added.
The following are the highlights of sugar prices in the domestic market:
--Flat at INR 3,870-INR 3,980 per 100 kg in western Uttar Pradesh
--Flat at INR 3,870-INR 3,990 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 0.3% at 16.48 cents per pound. Sugar prices fell amid estimates for lower global sugar deficit in 2025-26 (Oct-Sept). Sugar prices also fell tarcking losses in crude oil prices. Lower crude oil prices discourage the diversion of sucrose for ethanol production, thereby increasing sugar production.
The International Sugar Organization has estimated global deficit to be 231,000 tonnes for 2025-26, signficantly lower than 4.87 million tonnes in 2024-25. "A global deficit of this magnitude, ahead of the start of the season, can be considered as negligible, although the narrowing of the deficit compared to 2024-25's revised figure of 4.879 million tonnes is significant," the body said in its quarterly market outlook released Friday.
Global sugar deficit is seen narrowing due to estimates of larger production in India, Thailand and Pakistan. End
US$1 = INR 88.19
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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