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Informist, Friday, Jan. 2, 2026

By Taniva Singha Roy

MUMBAI – Ex-mill prices of sugar were steady in key markets of Uttar Pradesh and Maharashtra as demand was just need-based, traders said. Prices will remain range-bound in the first half of the month and are only likely to increase in the second half, when demand is likely to rise, they said. 

Mills in Uttar Pradesh kept prices steady Friday after cutting rates by INR 10-INR 20 per 100 kg Thursday because of sluggish demand, traders said. There was limited demand and traders at the resales market were buying on a day-to-day basis instead of stocking up the pipeline, Gupta said. Prices are likely to fall further as there are no festivals in the first half of the month, he said. However, he expects prices to start rising in the second half of the month when wedding festivities resume across India.

The government has set the domestic sugar sales quota for January at 2.2 million tonnes, unchanged from December but more than 2% lower than the quota for January 2025. The quota is in line with market expectations. Participants had told Informist that the sales quota was expected to be 2.2-2.3 million tonnes with demand likely to improve due to festivals like Makar Sankranti and Pongal and the wedding season.

In Maharashtra, prices of the sweetener were steady, with market participants in wait-and-watch mode, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to remain at these levels for the rest of the month, he said.

The 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 3,825-INR 3,980 per 100 kg in central Uttar Pradesh

--Flat at INR 3,860-INR 4,020 per 100 kg in Mumbai

--Flat at INR 3,765-INR 3,850 per 100 kg in Kolhapur

At 2042 IST, the price of sugar on the Intercontinental Exchange was down nearly 2% at 14.73 cents per pound. Sugar prices fell, tracking a fall in crude oil prices on NYMEX. A fall in crude oil prices leads to reduced diversion of sucrose for ethanol production, increasing the availability of sugar.  End

US$1 = INR 90.19

Edited by Rajeev Pai

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