New Delhi. Although only 2 million tonnes of sugar has been released for the month of November, domestic market prices are still under pressure. During the week of November 15th to 21st, sugar prices showed a mixed trend based on demand and supply, but the market remained soft rather than rising. The Lagnasara season also failed to lift prices.

Sugar mill delivery prices showed a mixed trend during the week under review. They increased by ₹70 per quintal in Eastern Uttar Pradesh and ₹20 per quintal in Western Uttar Pradesh, while they declined sharply by ₹75 per quintal in Madhya Pradesh and ₹85 per quintal in Bihar. Gujarat also saw a decline of up to ₹40, while prices in Punjab remained stable at previous levels.

Similarly, the spot market price of sugar increased by ₹75 to ₹4400/₹4500 per quintal in Delhi, but fell by ₹50 to ₹4150/₹4250 per quintal in Indore and ₹100 to ₹4130/₹4200 per quintal in Raipur. Meanwhile, sugar prices remained unchanged at ₹4350/₹4420 per quintal in Kolkata and ₹3880/₹4020 per quintal in Mumbai. The Naka Port delivery price also remained stable at ₹3830/₹3970 per quintal.

However, despite the central government allowing the export of 1.5 million tonnes of sugar, its tender price declined sharply. Tender prices fell by 20-30 rupees in Maharashtra to 3680/3880 rupees per quintal, and by 130-160 rupees in Karnataka to 3790/3870 rupees per quintal. Sugar production in Maharashtra is increasing rapidly compared to last year, while sugarcane crushing has also begun in other states.