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Informist, Wednesday, Oct. 15, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in key markets of Uttar Pradesh continued the downward trend as demand was need based, said traders. Mills in Maharashtra kept prices steady after cutting them the previous day, they said. With prices on a downward trend, traders are exercising caution and avoiding stocking up, traders said.

Mills in Uttar Pradesh cut prices by another INR 10-INR 15 per 100 kilogram on Wednesday as demand demand could not pick up even at lower prices, said Naresh Gupta, a trader from north India. In the past few days, prices fell by INR 130-INR 150 per 100 kg, he said. "After Diwali, prices will fall further as there will be demand only from households and not from bulk consumers of sugar, such as confectioneries," Gupta said.

Moreover, traders will only buy on a day-to-day basis instead of beefing up the inventory as there will be ample availability of sugar, with crushing starting in the next 15 days, Gupta said. Prices are likely to fall further after Diwali, but since the fall is quite significant at the moment, it will not be very much after the festival, he added.

In the last week of September, prices had risen by INR 70-INR 80 per 100 kg owing to anticipation of higher demand during October. However, sales quota of 2.40 million tonnes was more than sufficient for October. Hence, prices could not sustain at higher levels and plunged sharply. The quota for this month was 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.

In Maharashtra, sweetener prices were steady as mills had reduced prices by INR 15 per 100 kg because of poor demand the previous day, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. "There is very little demand now and after Diwali demand will fall further. Prices will also fall during that time," Kuvadia added.

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

--Down INR 10-INR 15 at INR 3,900-INR 4,025 per 100 kg in western Uttar Pradesh

--Down INR 10-INR 15 at INR 3,900-INR 4,025 per 100 kg in central Uttar Pradesh

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

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

At 1842 IST, the price of sugar on the Intercontinental Exchange was down 1.5% at 15.64 cents per pound. UNICA, a Brazilian sugar industry association, said Brazil's centre-south region sugar output in the first half of September rose by 15.7% on year to 3.6 million tonnes. Higher availability is bearish for global sugar prices.  End

US$1 = INR 88.07

Edited by Akul Nishant Akhoury

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