Sugar prices have brought some relief to consumers ahead of Diwali and the upcoming festive season. Retail sugar prices in the country have declined by nearly 10% over the past few weeks, offering some respite at a time when demand for sweets, snacks and other food products usually rises.
To ensure sufficient availability of sugar during the festive period, the Central Government has also increased the stockholding limit for large businesses and industries that use sugar in significant quantities.
Sugar Price Drops From Rs 65 to Rs 58.5 Per Kg
Retail sugar prices have fallen noticeably over the last three weeks. Sugar that was earlier selling at around Rs 65 per kilogram is now available at approximately Rs 58.5 per kilogram.
According to the Food Department, ex-mill sugar prices have declined by around 25%. However, the complete benefit of this reduction has not yet reached consumers at the retail level.
Wholesalers and retailers have been directed to pass on the full benefit of the lower sugar prices to the public without delay.
Meanwhile, amid concerns over a possible sugar shortage, Uttar Pradesh Chief Minister Yogi Adityanath stated that the state has a reserve of 2.8 million tonnes of sugar. He also announced a major initiative aimed at the youth.
Government Increases Sugar Stock Limit for Large Users
The government has relaxed the stockholding rules for businesses that consume large quantities of sugar. The revised provisions cover sweet manufacturers, biscuit companies, confectionery producers and soft drink manufacturers that use more than 10 tonnes of sugar each month.
Under the revised arrangement, these businesses can now maintain sugar stocks equivalent to 30 days of their consumption. Earlier, the permitted stock level was limited to 15 days.
However, the additional stock beyond the earlier 15-day limit must be sourced either from sugar imported under specified schemes or from the domestic market.
Weekly Stock Reporting Made Mandatory
Large industrial sugar consumers will also be required to submit details of their sugar stocks through the Food Department’s online platform every Friday.
The government has taken these measures to maintain adequate supplies during the festive season. Along with allowing concessional imports of 10 lakh tonnes of sugar, the increase in permissible stock levels is intended to ensure that sweet manufacturers and other large users have sufficient supplies during Diwali and other major festivals.
Disclaimer
The prices and government measures mentioned in this article are based on the information provided in the source material and may change with market conditions or subsequent official decisions. Readers should verify the latest prices and government notifications through official sources before making any financial or purchasing decisions.