Sugar Price: Good news for common people. Just before the onset of Diwali and the festive season, some delightful news has arrived for the public in the food industry. Retail prices of sugar in the country have dropped by close to 10%. To cater to the rising demand for sweets and snacks during festivals, the Central Government has increased the stockholding limit for large businesses and companies that use sugar in bulk.
Sugar price has decreased from Rs 65 to Rs 58.5
Retail sugar prices have significantly decreased over the last three weeks. Previously priced at Rs 65 per kilogram, sugar is now selling at around Rs 58.5 per kilogram. The Food Department has reported a 25% decrease in ex-mill sugar prices. However, retailers have yet to fully pass on these savings to consumers. Wholesalers and retailers have been instructed to promptly transfer the entire benefit of reduced prices to the public. Moreover, amidst claims of a sugar shortage, CM Yogi announced that Uttar Pradesh has a reserve of 2.8 million tonnes of sugar and unveiled a significant initiative for the youth.
What relaxations have been provided to confectioners and large corporations?
The government has relaxed stockpiling regulations for sweet makers, biscuit producers, confectionery, and soft drink manufacturers using over 10 tons of sugar monthly. These businesses can now store sugar equivalent to 30 days of their consumption, up from 15 days.
However, any surplus stock beyond 15 days must be procured from sugar imported under specific schemes or from the domestic market. Large industrial consumers must report their sugar stock details on the Food Department’s online platform every Friday. By permitting the concessional import of 10 lakh tonnes of sugar and increasing stock limits, the government ensures an ample supply of sweets during Diwali and other festivals.