New Delhi. Despite the festive season, some softness was recorded in the mill delivery price and spot market price of sugar during the week of 5 to 11 October. The government has issued a free sale quota of 25.50 lakh tonnes of sugar for the month of October, so buyers are not in any hurry.

During the week under review, although the mill delivery price of sugar strengthened by Rs 20 in eastern Uttar Pradesh and Rs 30 in Bihar, it softened by Rs 20 each in Punjab and Madhya Pradesh and Rs 40 per quintal in western Uttar Pradesh. A decline of Rs 30 to Rs 110 per quintal was recorded in Gujarat.

The new marketing season for crushing sugarcane and production of sugar has formally started from October 1, 2024. The industry also has a huge backlog of stock, so the government is not facing any difficulty in fixing its free sale quota as per the requirement. This is the reason that contrary to expectations, the sugar market has remained stable or soft even in the festive season. Generally, its demand, consumption and price were expected to increase. The government is keeping a close eye on the sugar market and does not want to allow it to grow too much.