Indian sugar mills association

Supply’s firm, sugar prices to stay stable till festive season

Date:	18 Jul 2016

Source:	The Economic Times

Reporter:	Jayashree Bhosale

News ID:	5757

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PUNE: Sugar prices are likely to stay stable till August and go up only marginally with the onset of the festival season, industry executives said.

Prices remained rangebound over the past month due to fears of government intervention in case of an increase beyond Rs 40 per kg, they said. Besides, there is adequate supply for the next few months, although a shortage of sugar is expected in 2017-18 season. In Maharashtra, ex-mill prices of S-30 grade sugar remained stable at Rs 33-33.50 per kg. "There is no major consumption demand in the market. It's mainly the traders buying sugar and there is a limit to how much they can buy and sell. The main festivals, including Diwali, are in October," said a miller.

The central government has made it clear that it does not want retail prices to cross Rs 40 per kg. Some traders said prices will start rising from August, but others said that the upside is unlikely to be more than Rs 1.50 per kg.

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