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Informist, Thursday, Sept. 11, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar were steady in the key markets of Uttar Pradesh and Maharashtra for the third straight day due to limited buying, said traders. Demand may increase at the end of the month ahead of festivals, they said.

 

Mills in Uttar Pradesh kept prices steady due to limited demand at elevated rates, said Naresh Gupta, a trader from north India. Mills had raised rates by INR 50-INR 60 per 100 kg on Monday. Prices were steady in the resale market too as there was lower offtake of stocks at higher prices, Gupta said.

 

After the release of the sales quota, prices had fallen by about INR 40-INR 50 per 100 kg. The quota for September was higher than market expectations of 2.2-2.3 million tonnes. The government has set the domestic sugar sales quota for September at 2.35 million tonnes, unchanged from a year ago but over 4% more than 2.25 million tonnes in August.

 

Mills in Maharashtra kept prices steady due limited demand at the moment, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. In Maharashtra, demand for festivals is likely to start around Sept. 25, Kuvadia said.

 

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

 

--Flat at INR 3,900-INR 4,020 per 100 kg in western Uttar Pradesh

--Flat at INR 3,900-INR 4,020 per 100 kg in central Uttar Pradesh

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

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

 

At 2046 IST, sugar prices on the Intercontinental Exchange fell nearly 1% to 15.81 cents per pound, tracking losses in crude oil prices on the NYMEX. Lower crude oil prices discourage diversion of sucrose for ethanol production, increasing the availability of sugar.  End

 

US$1 = INR 88.44

 

Edited by Avishek Dutta

 

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