Indian mill-level sugar prices rise on UP factories reluctance to lower rates
India’s ex-mill and wholesale sugar prices firmed to ₹4,900–5,100 per quintal, rising over 2% this week. Maharashtra and Gujarat mills raised rates above ₹5,000, while Uttar Pradesh mills remained reluctant to cut prices below ₹4,900 despite government measures.
Mill-level and wholesale sugar prices in India firmed up on Wednesday as factories in Uttar Pradesh have been reluctant to cut the rates despite various measures taken by the Centre.
On Wednesday, ex-mill prices were quoted between ₹4,900-5,100 a quintal, with some mills in Maharashtra and Gujarat hiking beyond ₹5,000 for the first time in two weeks. Prices are up over 2 per cent since the beginning of this week.
Industry sources said most mills in Uttar Pradesh are privately owned, while those in Maharashtra fall under the co-operative sector. “While mills in Maharashtra eagerly lowered the prices after the government’s initiatives, Uttar Pradesh mills were reluctant to lower below ₹4,900,” said a trade source, who did not wish to be identified.
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Source : The Hindu Businessline
