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Informist, Thursday, May 14, 2026

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in the key markets of Uttar Pradesh were mixed as mills in some parts of the state cut prices due to subdued demand, while mills in other parts raised prices as they were not in a hurry to offload stocks, traders said. Mills in Maharashtra kept prices steady as demand was need-based, they said. 

 

Mills in western Uttar Pradesh cut prices by INR 10-INR 15 per 100 kg due to sluggish demand at higher rates, Naresh Gupta, a trader from north India, said. On the other hand, mills in the central part of the state raised prices by INR 10-INR 15 per 100 kg as they are not in a hurry to meet the quota at the moment, he said.

 

Gupta added that owing to a ban on sugar exports during the current sugar season, prices could fall in the coming days due to expectations of higher sugar availability. The government has banned exports of raw, white, and refined sugar with immediate effect till Sept. 30, or till further orders, whichever is earlier, according to a notification by the commerce ministry and the Directorate General of Foreign Trade late Wednesday.  

 

This marks a reversal of the previously "restricted" export policy, where the government had approved 1.5 million tonnes of sugar for export in 2025-26 (Oct-Sept) on Nov. 14, 2025, after which it had approved another 500,000 tonnes for export on Feb. 13, bringing the total approved amount of sugar exports to 2 million tonnes. Prior to Nov. 14, sugar exports from India were prohibited. 

 

Mills in Maharashtra kept prices of the sweetener steady as demand was need-based, Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association, said. But prices may fall in the coming days as market participants expect higher availability due to the ban on exports of sugar, Kuvadia added.

 

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

--Down INR 10-INR 15 at INR 3,990-INR 4,065 per 100 kg in western Uttar Pradesh

--Up INR 10-INR 15 at INR 4,010-INR 4,100 per 100 kg in central Uttar Pradesh

--Flat at INR 4,042-INR 4,122 per 100 kg in Mumbai

--Flat at INR 3,915-INR 3,940 per 100 kg in Kolhapur

 

At 1825 IST, sugar prices on the Intercontinental Exchange were down 2.4% at 15.01 cents per pound, tracking losses in 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 95.76

 

Edited by Avishek Dutta

 

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