Sugar down in Delhi as demand falls at higher price levels.

Prices of sugar fell in the key wholesale markets of Delhi due to sluggish demand at higher prices. Sugar prices fell by 5 rupees per 100 kg in Delhi. Prices of the sweetener were unchanged in the key wholesale markets of Muzaffarnagar, Mumbai, and Kolhapur because of subdued trade. Mill owners did not lower prices of sugar despite a fall in demand. Traders across the country are bearish on the sugar prices in the near term. Prices are expected to be lower in north India due to higher sugar output in Uttar Pradesh. Mills across Uttar Pradesh produced 8.73 mln tn sugar during Oct 1-May 8, up 28.4% on year. The state had produced 6.80 mln tn sugar during the corresponding period a year ago. Average sugar recovery in Uttar Pradesh as of now is 10.61%, slightly higher than 10.60% a year ago.