New Delhi. Despite the wedding season and auspicious festivals and a lower monthly free sale quota, sugar prices softened during the week of November 8-14 due to weak trading. Sugarcane crushing has begun in all producing states, which is expected to boost sugar stocks again. Although the central government has taken a principled decision to allow the export of 1.5 million tonnes of sugar for the 2025-26 season, no official notification has been issued yet.

During the week under review, sugar prices fell sharply by ₹30 per quintal in Madhya Pradesh, ₹41 in Bihar, ₹65 in Eastern Uttar Pradesh, and ₹125 in Western Uttar Pradesh, but improved by ₹31 in Punjab. Gujarat saw a decline of ₹10-₹20 due to reduced buyer interest.

Sugar spot prices also remained generally soft. Prices fell by ₹50 to ₹4350/4425 per quintal in Delhi, ₹25 to ₹4200/4250 per quintal in Indore, and ₹30 to ₹4350/4420 per quintal in Kolkata. However, they improved by ₹10 to ₹4230/4300 per quintal in Raipur. Sugar prices remained stable at ₹3900/4040 per quintal in the Mumbai (Vashi) market, and the Naka Port delivery price remained unchanged.

Sugar tenders witnessed a mixed trend. Prices were recorded at ₹3760/3930 per quintal in Maharashtra and ₹3800/3895 per quintal in Karnataka. Sugar prices are expected to remain mixed going forward.

The wedding season is expected to keep demand strong, but supply and availability are expected to remain stable. The market may pick up somewhat once exports begin.