Sweet Markets Turn Bitter: Jaggery Slides on Heavy Arrivals, Sugar Stays Soft

Due to weak buying support, jaggery prices in the local market declined by ₹200 per quintal during the past week. Sugar prices also softened by ₹50 per quintal amid sluggish demand. Lack of demand support and higher production led to increased selling by sugar mills. As a result, mill-delivery sugar prices eased to ₹3,900–4,080 per quintal, while spot market prices stood at ₹4,200–4,400 per quintal. Prices of sugar from the 2024–25 season are trading nearly ₹100 per quintal lower compared to new-season sugar. Trade sentiment was further affected by lower prices in the Maharashtra sugar segment. However, in the international market, speculative buying pushed London sugar futures for March delivery up from $419.20 to $425.90 per tonne. Meanwhile, increased arrivals from Uttar Pradesh mandis led to a decline of ₹100–200 per quintal in jaggery prices. Pedhi-grade jaggery traded at ₹4,300–4,400 per quintal, while Dhaiya-grade prices were ₹4,500–4,600 per quintal. Due to weak lifting, khandsari prices remained dull at ₹5,200–5,300 per quintal. In the absence of demand, refined sugar (shakkar) prices stayed under pressure at ₹4,700–4,800 per quintal. In Muzaffarnagar, weak outstation demand caused jaggery chaku prices to fall from ₹1,520–1,640 to ₹1,480–1,615 per 40 kg. Daily arrivals of jaggery in the mandi were around 6,000 bags. In contrast, improved demand in the Khatauli mandi led to a rise of ₹25–30, with prices increasing to ₹1,485 per 40 kg.

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