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Informist, Wednesday, Sept. 3, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh and Maharashtra fell due to sluggish demand amid heavy rainfall in several parts of the country, traders said. Festival demand would start only at the end of the month, they said.

Mills in west Uttar Pradesh cut prices by INR 10 per 100 kg, and those in central parts of the state cut prices by INR 25-INR 30 per 100 kg as there was poor demand due to heavy rainfall, said Naresh Gupta, a trader from north India. Sugar stocks get damaged during rainfall, which is why traders avoid keeping pipeline stocks, he said.

Moreover, the sales quota for September is more than sufficient to meet demand and re-sellers are in no hurry to stock up, Gupta said. The government set the domestic sugar sales quota for September at 2.35 million tonnes, unchanged from a year ago but over 4% higher than 2.25 million tonnes set for August.

Prices have fallen by about INR 40-INR 50 per 100 kg after the release of the sales quota. The quota was higher than market expectations of 2.2-2.3 million tonnes.

Mills in Maharashtra lowered prices by another INR 10 per 100 kg as demand was subdued, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. "There are not many major festivals this month, only Durga Puja is there towards September-end," he said. Demand for festivals is likely to start arround Sept. 25, Kuvadia said.

Following are the highlights of sugar prices in the domestic market:

--Down INR 10 at INR 3,860-INR 3,970 per 100 kg in western Uttar Pradesh

--Down INR 25-INR 30 at INR 3,870-INR 3,990 per 100 kg in central Uttar Pradesh

--Down INR 10 at INR 4,082-INR 4,162 per 100 kg in Mumbai

--Down INR 10 at INR 3,910-INR 3,980 per 100 kg in Kolhapur

At 1917 IST, sugar prices on the Intercontinental Exchange were down 0.6% at 16.07 cents per pound, tracking losses in crude oil prices on NYMEX. Lower crude oil prices discourage diversion of sucrose for ethanol production, thus increasing sugar production.  End

US$1 = INR 88.07

Edited by Avishek Dutta

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