As production likely to be 9% lesser, sugar prices surge slightly

Wholesale prices of sugar too have risen by Rs 124 per quintal during the past one month

May 8, 2023

Food Dept to release a sugar quota in the coming days to ease consumer concerns

Sugar prices see a rise by Rs.1.25 per kg in the last one month in the retail market as the sugar production is expected to be 9 percent lesser than last year. From Rs.41.05 per kg on April 2, the retail price of sugar rose to Rs.42.30 per kg on May 2.

Similarly, wholesale prices too have risen by Rs.124 per quintal during the past one month. From Rs.3,805 per quintal on April 2, wholesale prices of sugar have risen to Rs.3,929 per quintal as on May 2.

In order to provide relief to consumers, the Food and Consumer Affairs Department is expected to release an extra quota of sugar in the coming days.

Last year sugar production was 357 lakh tonnes and the government had exported 100 lakh tonnes, sources said.

This year too, the production was expected to be high, however, suddenly production estimates fell and now it is expected that this year’s output could be around 9 per lesser than last year and maybe around 327 lakh tonnes.

[With Inputs from IANS]

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