Average retail sugar prices up 22% at Rs 42.43/kg in last one year

Sugar production is estimated to decline to around 20 million tonnes in 2016-17 marketing year from 25 million tonnes in the previous year.

By: PTI | New Delhi | Published: March 21, 2017 6:16 pm

The government on Tuesday said the average retail sugar prices have risen by 22 per cent in last one year to Rs 42.43 per kg, and it is monitoring supply and price situation regularly. The all-India average retail prices of sugar rose by 22.17 per cent to Rs 42.43 per kg as on March 15, 2017 against Rs 34.73 per kg a year ago, according to the data placed in the Rajya Sabha by Minister of State for Food and Consumer Affairs C R Chaudhary.

“Government has issued order imposing stock holding and turnover limits on dealers of sugar currently valid till April 28, 2017. State governments/UTs have been advised to enforce this order to prevent any speculative and hoarding tendencies,” the minister said.

Chaudhary said custom duty of 20 per cent has also been imposed on export of sugar to discourage further exports.

“With the carry over stock of 77 lakh tonnes and estimated current season’s production, sufficient sugar would be available to meet domestic consumption requirement at reasonable prices,” he said in a written reply.

The minister said that supply and price situation is monitored on regular basis by the government and necessary actions are taken at appropriate time.

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, according to a latest trade data.

On prices of other essential commodities, the data showed that rates of chana dal have gone up by 35.29 per cent to 88.4 per kg in last one year, while prices of rice, wheat and milk have risen by 7.8 per cent, 4.9 per cent and 3.25 per cent, respectively.

Potato prices have declined by 10.34 per cent to Rs 13.44 per kg as on March 15, 2017 against Rs 14.99 per kg a year ago.

For all the latest Business News, download Indian Express App

    Live Cricket Scores & Results