The all-India average retail prices of sugar rose by 22.17% and stood at Rs 42.43 per kg as on March 15, 2017, against Rs 34.73 per kg a year ago. As per information provided by Minister of State for Food and Consumer Affairs C R Chaudhary, the supply and price situation is monitored on regular basis by the government and necessary actions are taken at appropriate time. The government has issued the order imposing stock holding and turnover limits on dealers of sugar currently valid till April 28, 2017.
The minister added that the customs duty of 20 percent had also been imposed in order to discourage further exports. With the carryover stock of 77 lakh tonnes and estimated current season’s production, sufficient sugar would be available to meet domestic consumption requirement at reasonable prices.
Sugar production is estimated to decline to around 20 million tonnes in 2016-17 marketing year (October-September) from 25 million tonnes in the previous year.