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Informist, Thursday, Oct. 16, 2025

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh fell for the sixth straight day Thursday as mills are now under pressure to offload stocks amid subdued demand, traders said. Mills in Maharashtra kept prices steady after cutting rates on Tuesday, they said.

In Uttar Pradesh, prices continued the downtrend trend and fell INR 10-INR 15 per 100 kg as demand was only need-based, said Naresh Gupta, a trader from north India. In the resales market too, prices fell by INR 10-INR 15 per 100 kg, he said. With prices on a downward trend, traders are exercising caution and avoiding stocking up, he said. Moreover, mills are under presuure to offload the stocks and meet the sales quota, as they have not been able to sell enough due to subdued demand even ahead of Diwali, he said.

In the past few days, prices fell by INR 140-INR 160 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". In addition, 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.

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, prices of the sweetener were steady as mills had reduced prices by INR 15 per 100 kg because of poor demand on Tuesday, 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 4,015 per 100 kg in western Uttar Pradesh

--Down INR 10-INR 15 at INR 3,900-INR 4,010 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 2037 IST, the price of sugar on the Intercontinental Exchange was up 0.3% at 15.72 cents per pound. On Aug 29, the International Sugar Organization has forecast a global sugar deficit of 231,000 million tonnes for the 2025-26 season, the sixth consecutive year of sugar deficits.  End

US$1 = INR 87.82

Edited by Vandana Hingorani

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