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31-Aug2017

Government imposes stock limits on sugar mills to check prices

The government has imposed stock limits on sugar mills for the month of September and October. The stock limits have been imposed in order to prevent artificial hoarding of sugar by mills during the festival season. The sugar demand is estimated at 24-25 MT annually.

Food Minister Ram Vilas Paswan said that the stock limit for September has been kept at 21% of the total sugar available with the mills during entire 2016-17 marketing year (October- September), while the stock limit for October will be 8% of the total sugar availability during the current marketing year.

Sugar production in India, the world's second largest producer, is estimated to decline to around 21 million tonnes (MT) in 2016-17 season ending September from 25 MT in the previous year. Sugar prices are ruling at more than Rs 40 per kg in the retail market while branded sugar is available at Rs 50 per kg.




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