Sugar prices continue to head northward

Since Saturday,sugar prices have seen a hike of up to Rs 50 a quintal depending upon the manufacturing mill. Reports said the sugar bags per quintal were priced in the range of Rs 3115 – Rs 3170 depending on the manufacturing mill. The mills are based at Yamunanagar,UP and Punjab.

The retailers,it may be mentioned,have urged the district food and civil supplies controller to do an early auction of the seized sugar so that prices can be brought down. If the things continue this way,the prices may see another hike tomorrow,said the retailers.

Balwant Rai,owner of Mani Ram Balwant Rai store,said,“The wholesale prices had started coming down earlier,but the prices are increasing again. This needs to be controlled. The authorities have conducted raids even in the past in other parts of the state as well,but till date no auction has been organised. If it is delayed further,the sugar stock may get spoiled and will be of no use for anyone. Moreover,an early auction will help the market prices to come down.”

District Food and Civil Supplies Controller,meanwhile,said that they would be seeking permission from the court to auction the huge piled up sugar stock. However,it needs to be mentioned that sugar stocks were seized from Rajpura and Jalandhar more than 15 days ago but nothing has been done even with these stocks. The retailers said that in festival season,good price can be given for these stocks and if it is delayed,no one will purchase bag even for Rs 1,000.