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Informist, Tuesday, Jun. 30, 2026

 

By Taniva Singha Roy

 

MUMBAI – Ex-mill prices of sugar in key markets of Uttar Pradesh and Maharashtra were steady Tuesday as demand at higher prices was need-based, traders said. As prices have already increased significantly in the past few days, they are unlikely to rise further, they said.

 

Mills in Uttar Pradesh kept prices steady after raising rates by about INR 100 per 100 kg after the release of the sales quota for July, Naresh Gupta, a trader from north India, said. The government has set the domestic sugar sales quota for July at 2.2 million tonnes. The quota is 2.2% lower than the quota of 2.25 million tonnes that was set for June.

 

Traders consider the quota to be insufficient to meet the demand expected next month. Meanwhile, they have already stocked up sugar, and so demand was limited Tuesday, Gupta said.

 

Mills in Maharashtra kept prices steady after having increased them in the past few days as demand from the resale market was firm on concern about lower availability of sugar next month, said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association. Prices are likely to increase further in the coming days, he said. 

 

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

--Flat at INR 4,180-INR 4,270 per 100 kg in western Uttar Pradesh

--Flat at INR 4,190-INR 4,280 100 kg in central Uttar Pradesh

--Flat at INR 4,120-INR 4,192 per 100 kg in Mumbai

--Flat at INR 3,995-INR 4,010 per 100 kg in Kolhapur

 

At 2012 IST, the price of sugar on the Intercontinental Exchange was up 0.7% at 14.37 cents per pound. The price rose amid concern about lower global production because of the impact of El Nino. Sugar price also rose tracking higher crude oil price on NYMEX. Higher crude oil price increases the incentive to divert sucrose for ethanol production, decreasing the availability of sugar in the market.  End

 

US$1 = INR 94.66

 

Edited by Rajeev Pai

 

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