New Delhi. Due to normal monthly quota, increased selling pressure by millers and weak industrial demand, the mill delivery price and spot market price of sugar declined by 10 to 40 rupees per quintal during the week of 17-23 May. Despite the severe heat, the consuming industry is not showing any hurry in buying sugar and is buying it in limited quantity only to meet immediate needs.

The spot market price of sugar fell by Rs 40 to Rs 4260/4360 per quintal in Delhi, by Rs 10 to Rs 4160/4260 per quintal in Indore and by Rs 10-25 to Rs 4140/4200 per quintal in Raipur. However, the price remained stable at Rs 3930/4130 per quintal in Mumbai (Vashi) market. No change was seen in Naka Port Delivery Price and it remained at the previous level of Rs 3880/4080 per quintal.

The tender price of sugar in Maharashtra and Karnataka softened, indicating that dealers-stockists were showing less interest in its purchase.

The sugar production or crushing season of sugarcane has ended and now the next new season will start in October. Meanwhile, the pace of sugar export is also slowing down because its domestic market price is relatively high. In the marketing season of 2024-25, domestic sugar production is expected to fall sharply by about 58 lakh tonnes, but due to high previous stock, its supply and availability situation remains comfortable.

The domestic market price of sugar is expected to remain almost stable with limited fluctuations during the next few weeks. An environment of change can be created in the market only when the festive season starts in August-September.