Sugar Prices Rise Again Before Festivals, Will Government Measures Bring Relief Soon?
· Free Press Journal
New Delhi: Sugar became costlier as the festive season approached, adding pressure on household budgets. The average retail price increased by Rs 1 to Rs 63.97 per kg on Tuesday, compared with Rs 63.05 per kg on Monday.
Data from the Department of Consumer Affairs’ Price Monitoring Division showed that the all-India average price on August 25 was 31 percent higher than Rs 48.81 per kg one month earlier.
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Sugar was 38 percent more expensive than a year ago, when it was available for Rs 46.31 per kg.
PTI reported that the maximum retail price on Monday was Rs 76 per kg, while the modal price stood at Rs 65 per kg.
Wholesale Prices Remain High
The wholesale price was Rs 59.23 per kg on Monday, compared with Rs 45.35 a month earlier and Rs 43.01 a year ago.
The government and sugar industry bodies said mill-level prices had fallen over the past few days. However, the benefit of this decline had not yet reached retail buyers.
Food Secretary Sanjeev Chopra said mill prices had dropped 18 percent to Rs 55 per kg after the government allowed sugar imports and acted against speculation and hoarding. Mill prices had touched a record Rs 67 per kg last week.
Government Increases Supply
The government has approved duty-free imports of 10 lakh metric tonnes of raw sugar after a long gap. The decision is aimed at increasing supply and controlling prices.
Stock limits have also been introduced. Sugar dealers can hold a maximum of 400 tonnes.
Uttar Pradesh Sugar Mills Association Rejects Ethanol Blending Link To Sugar Price Rise, Says Stocks AdequateFrom September 1, large industrial users, including bakeries and sweet makers, will not be allowed to keep stocks exceeding 15 days of consumption.
Joint teams from the central and state governments are physically checking stocks held at sugar mills. The inspections are intended to prevent hoarding and black marketing.
Consumers may receive relief if lower mill prices and additional imports are passed through to retail markets. Until then, families could continue paying elevated prices during the festive shopping period.