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Informist, Monday, Oct. 20, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in key markets of Uttar Pradesh fell again Monday as mills hurried to offload stocks and meet the sales quota for the month, traders said. Markets in Maharashtra were closed for Diwali.

 

Mills in Uttar Pradesh cut prices by INR 20-INR 25 per 100 kg as they are left with ample stock that needs to be sold to meet the sales quota for the month, said Naresh Gupta, a trader from north India. The downtrend in prices continued for the eighth straight day Monday. During the month, prices of sugar in Uttar Pradesh have fallen almost INR 190-INR 200 per 100 kg, he said.

 

At the reduced price levels, however, there was some demand during muhurat trading that took place in key markets, Gupta added. In the resale market, too, prices fell by INR 15-INR 20 per 100 kg, he said. 

 

In the last week of September, sugar prices had risen INR 70-INR 80 per 100 kg in anticipation of higher demand in October. However, the sales quota of 2.40 million tonnes set for October, up 2% from September's quota of 2.35 million tonnes, was seen to be more than sufficient. Hence, prices have dropped sharply.

 

Prices of the sweetener in key markets of Maharashtra were unavailable Tuesday as they were shut, Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. The markets will reopen Wednesday, when they will also hold muhurat trading, he added.

 

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

--Down INR 20-INR 25 at INR 3,870-INR 4,000 per 100 kg in western Uttar Pradesh

--Down INR 20-INR 25 at INR 3,890-INR 4,010 per 100 kg in central Uttar Pradesh

 

At 1731 IST, the price of sugar on the Intercontinental Exchange was up 1% at 15.66 cents per pound. The International Sugar Organization has forecast a global sugar deficit of 231,000 tonnes for the 2025-26 season. This will be the sixth consecutive year of a sugar deficit.  End

 

US$1 = INR 87.92

 

Edited by Rajeev Pai

 

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