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Informist, Tuesday, Oct. 14, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar fell further in key markets of Uttar Pradesh on weak Diwali demand and traders holding back from stocking up amid sliding prices, traders said. The downtrend in prices is likely to continue this week, they said.

In Uttar Pradesh, sugar prices fell by INR 30-INR 40 per 100 kilogram as demand remained subdued, said Naresh Gupta. "Until now some festival demand was there, but after two or three days that will stop," Gupta said. Prices have fallen by over INR 100 per 100 kg in the past few days, he said. Moreover, with prices on a downward trend, traders are exercising caution and avoiding stocking up, Gupta said.

Prices had risen by INR 70-INR 80 per 100 kg in the last week of September. After the government released the sales quota for October, market participants initially expected robust demand during the month for Diwali, but as demand did not pick up, prices could not be sustained at higher levels, Gupta added.

The October sales quota is more than enough to meet the demand, said traders. The government has set 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.

Mills in Maharashtra cut prices of the sweetener by INR 15 per 100 kg because of poor demand, said Mukesh Kuvadia, secretary of Bombay Sugar Merchants Association. Diwali demand has almost come to an end and prices are likely to remain at the same levels for the next few days, he said.

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

--Down INR 30-INR 40 at INR 3,900-INR 4,020 per 100 kg in western Uttar Pradesh

--Down INR 30-INR 40 at INR 3,900-INR 4,020 per 100 kg in central Uttar Pradesh

--Down INR 15 at INR 4,050-INR 4,112 per 100 kg in Mumbai

--Down INR 15 at INR 3,900-INR 3,940 per 100 kg in Kolhapur

At 1935 IST, the price of sugar on the Intercontinental Exchange was down 0.5% at 15.54 cents per pound, tracking fall in crude oil prices. Fall in crude oil prices result in lower diversion of sucrose for ethanol production, thereby increasing the availability of sugar.  End

US$1 = INR 88.79

Edited by Subhojit Sarkar

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