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Informist, Thursday, May 7, 2026

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in key markets of Uttar Pradesh were steady as demand was need-based, traders said. But in Kolhapur, Maharashtra, sugar prices fell as demand was poor at existing price levels, they said, adding that prices were steady in Mumbai.

 

Mills in Uttar Pradesh kept prices steady due to need-based demand at higher prices, said Naresh Gupta, a trader from north India. Prices increased significantly by INR 70 per 100 kg after the release of the sales quota for May, as the quota was deemed to be insufficient, he said. But demand was only as per requirement, and traders are not stocking up on sugar at the moment in the hope of prices falling, he said. 

 

The government has set the all-India sugar sales quota for May at 2.25 million tonnes, 2.2% lower than the quota of 2.30 million tonnes for April and 4.3?low the 2.35 million tonnes allocated for May 2025. Market participants had expected a higher sales quota, Gupta said. 

 

In Maharashtra, prices fell in Kolhapur by INR 5-INR 10 per 100 kg as demand was subdued at higher rates, but prices were steady in Mumbai, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. After the government released the sales quota, prices rose over INR 50 per 100 kg, Kuvadia said. The government has lowered the May sugar sales quota for Maharashtra by 18% from April to 666,331 tonnes.

 

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

--Flat at INR 3,970-INR 4,120 per 100 kg in western Uttar Pradesh

--Flat at INR 3,980-INR 4,130 per 100 kg in central Uttar Pradesh

--Flat at INR 4,080-INR 4,145 per 100 kg in Mumbai

--Down INR 5-INR 10 at INR 3,895-INR 3,940 per 100 kg in Kolhapur

 

At 1556 IST, the price of sugar on the Intercontinental Exchange was down over 1% at 14.63 cents per pound, tracking a fall in the price of crude oil on NYMEX. Lower crude oil prices reduce the diversion of sucrose for ethanol production, increasing the availability of sugar.  End

 

US$1 = INR 94.25

 

Edited by Avishek Dutta

 

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