Indian Sugar Prices Soar Amid Tight Supply

The domestic sugar market in India has seen a rise in prices due to tight supply. In Maharashtra, prices have gone up by around ₹200 per quintal, while Uttar Pradesh prices have risen by approximately ₹70 per quintal.

The price spread between Maharashtra and Uttar Pradesh has widened significantly. Kolhapur S-grade sugar is currently quoted at around ₹4,500-4600 per quintal, compared with ₹5020-5,120 per quintal for M-grade sugar in Muzaffarnagar.

Ex-mill sugar prices have also been affected by the situation. In Maharashtra, the price of S/30 sugar is at ₹4500 per quintal, while in South Karnataka it ranges from ₹4400 to 4800 per quintal. Uttar Pradesh has seen a rise in M/30 sugar prices, which are now around ₹5020 to 5120 per quintal.

The international market also saw fluctuations, with London White Sugar trading at $528.10 ton and New York Sugar #11 trading at 18.07 c/lb. The corn futures market trades at 512-0, while ethanol in Chicago is trading at 2.08000s.