Centre lets sugar mills sell October output in November too to keep festive prices in check
The Centre has allowed sugar mills to sell sugar produced in October in either October or November, in addition to their regular monthly quotas, to boost festive-season supply.
Images are not validated/verified
Inflation has risen so sharply in recent months that the household budget of the common man has been thrown into disarray. For the past two months, sweetness in the kitchen has also dwindled, and the main reason is the price of sugar. People are now asking what will happen to sugar prices in the coming festive season.
Sugar prices are likely to stay under control during the festive season. The main reason is a major decision taken by the government to keep prices in check. To increase sugar supply during the festivals, the Centre has allowed sugar mills to sell sugar produced in October in either October or November.
This sale will be over and above the regular monthly sales quota for both months, it is being said. This means a large stock of sugar will be available in the market, which will directly help keep prices under control.
The Food Ministry fixes the sugar quota for sale in the domestic market every 15 days. A quota of 1.3 million tonnes had been approved for the first fortnight of October and 1.4 million tonnes for the second fortnight. The supply the government has now permitted will be over and above these fixed quotas. The ministry has not yet fixed a quota for November. However, it is believed that greater emphasis will be placed on increasing supply during the festive season.
The industry body has also praised the decision. Praful Vithalani, president of the All India Sugar Trade Association (AISTA), welcomed the move. According to him, it will increase the supply of sugar in the domestic market during the festivals. He also noted that cane crushing began this week at many sugar mills, nearly a month ahead of schedule. He said the increased supply would improve the availability of sugar across the country and help keep wholesale and retail prices under control.
Retail sugar prices in the domestic market had risen to Rs 70 per kg. The government then imposed stricter rules for fixing quotas and stocks, and prices soon came under control. Not only that, the government also began the cane crushing season a month early to improve the availability of sugar in the domestic market. After all this planning, it is believed that the government will succeed in keeping sugar prices under control.
