The union government has mandated weekly disclosure of sugar stocks by traders/wholesalers, retailers, big chain retailers and processors while it has released 13 lakh metric tonnes (LMT) of advance sugar quota for October 2023 to ensure no shortfall.
The Ministry of Consumer Affairs, Food and Public Distribution has said that a close watch is being kept over sugar stocks and trades to avoid hoarding, while also pointing out that sugar's retail price has remained stable despite a record increase in global prices.
Noting that a sufficient stock of sugar is available to cater to the current requirement, Food Secretary Sanjeev Chopra told CNBC-TV18 that the government has found some aberrations in the data presented till now, which indicates that there are vested interests that are causing a shortfall of sugar.
Stating that the government didn't find the need to impose any stock limit on sugar, he added that the new harvest will be available in another month, which will cool down prices further.
Pointing out that the existing rainfall deficit for the sugarcane crop was partly wiped out in Maharashtra and Karnataka due to better rainfall in September, he said that production estimates for sugar have improved further.
(Edited by : Keshav Singh Chundawat)
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