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Informist, Friday, Jan. 23, 2026

 

By Afra Abubacker

 

NEW DELHI – Ex-mill prices of sugar were largely steady in key markets of Maharashtra and Uttar Pradesh on Friday as traders stayed on the sidelines waiting for clarity on the government's decisions about the sales quota for February and minimum selling price of sugar.

 

Though no official announcement on higher minimum selling price has been made, ex-mill prices have firmed up over the past few sessions in anticipation of higher prices. Since last Friday, market chatter of a higher minimum selling price has been doing the rounds, after ChiniMandi, a sugar trade media, reported that the government is likely to increase the minimum selling price to INR 37.50–INR 38.00 per kg. The minimum selling price of sugar currently is INR 31 per kg, since February 2019.

 

"Market is flat. People are waiting for government announcements. The exact picture will come after Tuesday," Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. The government is shut Monday on account of Republic Day.

 

Market participants broadly expect the domestic sales quota for February to be set at 2.20 million-2.25 million tonnes, largely in line with last year's levels. For February 2025, the government had fixed the quota at 2.25 million tonnes.

 

Mills were mandated to sell 2.20 million tonnes each in December and January. Though sugar consumption typically softens during winter months on account of lower demand from manufacturers of cold beverages and ice cream, the ongoing wedding-related demand in northern India has provided some support.

 

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

--M-grade sugar flat at INR 3,900-INR 4,080 per 100 kg in Uttar Pradesh

--Flat at INR 3,910-INR 3,992 per 100 kg in Mumbai

--Flat at INR 3,760-INR 3,800 per 100 kg in Kolhapur

 

At 1548 IST, the price of sugar on the Intercontinental Exchange was down 1% at 14.84 cents per pound. Higher sugar production in Brazil and India is weighing on global sugar rates.  End

 

US$1 = INR 91.95

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Nishant Maher

 

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