Centre asks sugar traders, retailers, wholesalers to disclose stocks
retail market were up 1% month-on-month and 2.7% on year at ₹43.3 a kg. All-India wholesale prices were at ₹4,055 a quintal, an increase of 1% month-on-month and 3.4% on year, as per data frm the price monitoring division of consumer affairs department.
The Centre also asked sugar millers and traders to adhere to relevant laws and monthly domestic quota norms. Strict action will be taken against the mills violating the same.
“With 8.3 million tonne at the end of August and the expected beginning of crushing in October, India has sufficient stocks for domestic consumption with absolutely no shortage for festivals," the government said. In fact, it has released the first tranche of the domestic sales quota of 1.3 million tonne which sugar mills can start selling with immediate effect.
Additional quota will be announced in due course depending on market conditions. “Thus, the government is committed to ensuring sugar for domestic consumers at reasonable prices throughout the year," the statement said.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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