India Sugar Up in Maharashtra on rise in demand from bulk buyers.

Prices of sugar rose in the key wholesale markets of Maharashtra due to renewed demand from bulk buyers. Medium-grade sugar was sold at 3,540 rupees per 100 kg in Mumbai, up 5 rupees, and in Kolhapur, it was quoted 10 rupees higher at 3,415 rupees per 100 kg. Demand has improved ahead of festivals such as Janmashtami and Raksha Bandhan. So, mills have raised prices. Sugar prices in the key wholesale markets of north India, however, remained steady amid lacklustre trade. The sweetener was quoted at 3,535 rupees per 100 kg in Delhi and at 3,500 rupees in Muzaffarnagar, both largely unchanged. Prices of sugar are likely to spiral downward in the long term due to expectations of record production next season.