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Informist, Monday, Mar. 2, 2026

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar were steady in the key markets of Uttar Pradesh and Maharashtra due to muted demand at higher rates, traders said. Demand is likely to rise in the days to come after the Holi festival, mostly from bulk consumers, they said.

 

Mills in Uttar Pradesh kept prices steady as there was limited demand at higher rates, said Naresh Gupta, a trader from north India. Mills had raised rates by INR 5-INR 10 per 100 kg on Sunday in anticipation of firm demand ahead of Holi, Gupta said. Prices may rise in the coming days owing to lower-than-expected quota amid high demand from ice-cream and cold-drink manufacturers during the summer, he said.

 

However, the gains will be capped as sugar output in the state has increased. Sugar output in Uttar Pradesh rose over 2% on year to 7.4 million tonnes in Oct-Feb, even though sugarcane crushing decreased to 73.7 million tonnes from 76.6 million tonnes a year ago. The average sugar recovery rose to 10.05% from 9.45% last year, according to the National Federation of Cooperative Sugar Factories.

 

In Maharashtra, mills kept prices steady, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Kuvadia said there was little demand at the higher levels. Prices are likely to increase by INR 10-INR 20 per 100 kg in the coming days due to lower-than-expected sales quota for March, he said.

 

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

--Flat at INR 3,905-INR 4,055 per 100 kg in West Uttar Pradesh

--Flat at INR 3,905-INR 4,070 per 100 kg in Central Uttar Pradesh

--Flat at INR 3,810-INR 3,825 per 100 kg in Mumbai

--Flat at INR 3,995-INR 4,066 per 100 kg in Kolhapur

 

At 2015 IST, sugar prices on the Intercontinental Exchange were up 1.6% at 14.10 cents per pound, tracking gains in crude oil prices on the NYMEX. Higher crude oil prices lead to an increase in the diversion of sucrose for ethanol production, reducing sugar availability.  End

 

US$1 = INR 91.47

 

Edited by Saji George Titus

 

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