India Sugar Prices Decline Amid Weak Demand Pressure
Sugar prices in India are facing downward pressure due to weak demand, according to the latest update from Vizzie. Domestic sugar prices have declined by ₹20-30 per quintal across major markets, with buyers adopting a cautious approach amid comfortable availability.
The decline has been observed in various regions, including Maharashtra, South Karnataka, Uttar Pradesh, Gujarat, Tamil Nadu, Madhya Pradesh, and Punjab. In Kolhapur, S-grade sugar is currently quoted at ₹4,330-4,410 per quintal, while M-grade sugar in Muzaffarnagar is trading at ₹4,480-4,560 per quintal.
The international market also reflects the trend of weak demand. London White Sugar #The 5 front month contract is trading at $510.20 ton, whereas the New York Sugar #11 The front month contract is trading at 17.78 c/lb. The corn futures market trades at 527-4 and the ethanol Chicago trades at 2.11750s.