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- Sugar Prices Drop: Retail & Wholesale Rates Decline In India | Latest News
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Retail prices of sugar in the country have fallen by Rs 2.51 in a week to Rs 62.57 per kg, which was Rs 65.08 per kg on August 27. According to the Food Ministry, its average retail price has declined by 3.85%.
Prices have fallen after the central government allowed import of 1 million tonnes of sugar and tightened stock holding rules for dealers. However, current retail prices are still 27% higher than last month’s level of ₹49.33 a kg.
The wholesale price of sugar also fell to ₹57.62 kg.
Along with the retail market, wholesale prices of sugar have also decreased. According to the ministry, on September 2, the average wholesale price of sugar came down to Rs 57.62 per kg, which was Rs 60.39 per kg till a week ago.
2 big decisions to control sugar prices
To increase the supply in the market, the government has recently given approval to import 10 lakh tonnes of sugar. Additionally, stock holding norms for large dealers and bulk consumers such as the sweets and bakery industry have been tightened to prevent hoarding.
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