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Informist, Wednesday, Dec. 10, 2025

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar remained steady in the key markets of Uttar Pradesh on Wednesday as prices have already fallen significantly this month. Mills are now waiting to see if demand picks up at these prices, traders said. In Maharashtra, too, prices were steady due to subdued demand, they said.

 

Mills in Uttar Pradesh kept prices steady after cutting rates by over INR 80-INR 90 per 100 kilograms this month, said Naresh Gupta, a trader from north India. There was limited buying at current prices, he added. Traders in the resales market of the state, however, cut prices by INR 10-INR 15 per 100 kg, Gupta said. 

 

Market participants were of the view that prices in Uttar Pradesh would be range-bound as the sales quota allocation for the state was lower, however, as demand was sluggish, mills cut prices, Gupta said. The Centre has allocated a sales quota of 656,591 tonnes for Uttar Pradesh, which is nearly 11% lower than a month ago.

 

Mills in Maharashtra kept prices steady, Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. Prices are unlikely to increase, as demand is weak amid higher availability, he said.

 

Following are the highlights of sugar prices in the domestic market:

--Flat at INR 3,825-INR 3,960 per 100 kg in western Uttar Pradesh

--Flat at INR 3,855-INR 4,060 per 100 kg in central Uttar Pradesh

--Flat at INR 3,962-INR 4,072 per 100 kg in Mumbai

--Flat at INR 3,800-INR  per 100 kg in Kolhapur

 

At 1919 IST, prices of sugar on the Intercontinental Exchange was up 1.6% at 14.91 cents per pound, tracking gains in crude oil prices on NYMEX. When crude oil prices rise, there is higher diversion of sucrose for ethanol production, which decreases the availability of sugar.  End

 

US$1 = INR 89.96

 

Edited by Tanima Banerjee

 

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