Sugar prices largely flat as demand stays subdued

Sugar prices remained largely unchanged in key markets of Maharashtra and Uttar Pradesh on Friday as demand and supply stayed balanced. Traders said mills maintained prices despite weak buying interest, reflecting confidence in current market fundamentals and the absence of selling pressure. 

  In Maharashtra, sugar mills kept prices steady as market conditions remained stable. Traders said demand from bulk consumers was limited, but mills were not willing to lower rates to attract buyers.Market participants expect prices to remain range-bound in the coming days as supplies remain adequate and no major shift in demand is visible.

 Demand for sugar has remained sluggish during June due to the onset of the monsoon in southern regions and pre-monsoon showers in several other parts of the country.Traders said rainfall has reduced consumption of cold beverages and ice creams, two major users of sugar during the summer season. 

  This has curtailed fresh buying by beverage and food manufacturers.In Uttar Pradesh, mills also kept prices unchanged after raising rates a day earlier. Market participants said producers are waiting for demand to improve at current price levels before making any further adjustments.