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Informist, Wednesday, Oct. 8, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in key markets in Uttar Pradesh and Maharashtra were steady again Wednesday, traders said. Prices are likely to remain at these levels or even fall slightly if demand does not improve substantially even ahead of Diwali, they said.

 

In Uttar Pradesh, mills kept sugar prices steady seeing demand was limited, traders said. Prices were raised by INR 5 per 100 kg Monday, but little demand was seen at the higher levels, said Naresh Gupta, a trader from north India. Therefore, sugar prices are unlikely to sustain at these levels and may fall in the coming days, he said. Moreover, demand from Rajasthan and other states has shifted to Maharashtra as sugar prices there are lower, Gupta added.

 

In the resale markets of Uttar Pradesh, prices fell INR 10-INR 15 per 100 kg for the third consecutive day owing to poor demand, said Gupta. The fall in resale prices may force mills to cut prices in the next few days, he said.

 

Demand for sugar is subdued and the sales quota allocated for October is more than sufficient, traders said. The government has set the domestic sugar sales quota for the month at 2.40 million tonnes, up 2% from 2.35 million tonnes in September but down nearly 6% from a year ago, when the quota was set at 2.55 million tonnes. "No large price movement is expected. (Sales) quota is sufficient," said Gupta.

 

Sugar prices in Maharashtra were steady because of sluggish demand, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. "For the time being, prices will stay steady as Diwali demand is yet to pick up. After Oct. 15, prices may rise INR 10-INR 15 depending on demand," he added.

 

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

 

--Flat at INR 3,970-INR 4,140 per 100 kg in western Uttar Pradesh

--Flat at INR 3,970-INR 4,140 per 100 kg in central Uttar Pradesh

--Flat at INR 4,062-INR 4,132 per 100 kg in Mumbai

--Flat at INR 3,980-INR 3,990 per 100 kg in Kolhapur

 

At 1940 IST, the price of sugar on the Intercontinental Exchange was down nearly 2% at 16.35 cents per pound. The outlook for higher sugar exports from India is bearish for sugar prices, as abundant monsoon rains may produce a bumper sugarcane crop. The India Meteorological Department said the cumulative monsoon rain in India as of Sept. 30 was 937.2 millimetres, 8?ove normal, the highest in five years.  End

 

US$1 = INR 88.79

 

Edited by Rajeev Pai

 

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