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Informist, Friday, Oct. 17, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh fell for the seventh consecutive day as mills were in a hurry to meet the sales quota amid sluggish demand even ahead of Diwali, said traders. In Maharashtra, prices were steady as demand did not pick up at existing prices, they said.

 

Mills in Uttar pradesh reduced prices by INR 10-INR 15 per 100 kg on Friday as they were in a hurry to offload stocks, said Naresh Gupta, a trader from north India. Sugar prices in the resales market fell INR 5-INR 10 per 100 kg due to poor demand. Traders are only buying on a day-to-day basis, not in bulk, as demand is likely to fall further after Diwali, Gupta said.

 

In the past few days, prices fell by INR 140-INR 160 per 100 kg, he said. During the last week of September, prices had risen by INR 70-INR 80 per 100 kg owing to anticipation of higher demand in October. However, the 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 demand did not pick up at existing levels, 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 4,000 per 100 kg in western Uttar Pradesh

--Down INR 10-INR 15 at INR 3,890-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 1913 IST, the price of sugar on the Intercontinental Exchange was down 0.4% at 15.73 cents per pound, tracking a fall in crude oil prices. A fall in crude oil prices results in lower diversion of sucrose for ethanol production, increasing the availability of sugar.  End

 

US$1 = INR 87.98

 

Edited by Avishek Dutta

 

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