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Informist, Thursday, Oct. 9, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh fell Thursday due to subdued demand at higher prices, while sweetener prices in Maharashtra were steady, said traders. Prices are likely to remain at these levels or may even fall further if demand does not improve even ahead of Diwali, they said.

Mills in Uttar Pradesh cut prices by INR 30-INR 35 per 100 kg due to limited buying at higher rates, said Naresh Gupta, a trader from north India. Prices had risen about INR 70-INR 80 per 100 kg during the last week of September, when the sales quota for October was released. Initially, market participants anticipated robust demand during the month due to Diwali, but as demand did not pick up as much, prices could not sustain at the higher levels, said Gupta.

Mill prices are now on par with the resales market price levels. The resales market in Uttar Pradesh had cut prices by INR 10-INR 15 per 100 kg on Wednesday due to poor demand. 

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. 

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:

--Down INR 30-INR 35 at INR 3,970-INR 4,090 per 100 kg in western Uttar Pradesh

--Down INR 30-INR 35 at INR 3,970-INR 4,090 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 1941 IST, the price of sugar on the Intercontinental Exchange was down 0.6% at 16.19 cents per pound, tracking losses in crude oil prices. Lower crude oil prices result in lower diversion of sucrose for ethanol production, thereby increasing the availability of sugar.  End

US$1 = INR 88.78

Edited by Tanima Banerjee

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