Sugar price News

The government has said that this mandatory weekly stock disclosure for these entities is another proactive step in Government of India's efforts to maintain a balanced and fair sugar market. 

News Agency IANS quoted market research analysts stating that the revised forecast, a 14% reduction, marked the lowest production in the region in the past four years.

In May this year, the government had banned sugar exports with effect from June 1 till October 31, 2022 after the prices had surged exponentially.

In a statement, the government said that with a view to maintain domestic availability and price stability of sugar in the country during sugar season 2021-22 (October-September), it has been decided to regulate the sugar exports with effect from June 1.

The government had recently announced a sharp increase in the minimum support price (MSP) of kharif (summer-sown) crops, including paddy.

Sugar supplies and prices in the retail and wholesale markets will not be affected by the initial teething problems that traders may face in the coming days due to GST.

Government is mulling imposing stock limit for sugar millers and restricting domestic sales by fixing quota on each mill to tame sweetener's retail prices, which are currently ruling as high as Rs 43 per kg.

New Delhi: India has exported over 1.6 million tonnes of sugar so far in 2015-16 marketing year that started from October last, up 46 percent from the whole of previous year, according to industry body ISMA.

India's sugar production rose by 15 percent to 26.35 million tonnes so far during the current marketing year, resulting in fall of ex-factory prices to seven-year low and a surge in cane arrears to nearly Rs 20,000 crore.

Sugar mills will be unable to sign any major export deals despite recent government incentives if prices do not rise about 10 percent to 14.4 cents per pound, a top industry official said.

The Centre Wednesday decided to give flexibility to state governments to set retail price of PDS sugar that has been kept unchanged at Rs 13.50 per kg since 2002.

Amid demands from various states, the Food Ministry is mulling giving flexibility to state governments to fix the PDS rate of sugar, which has been kept unchanged at Rs 13.50 per kg since 2002.

Sugar marketing year runs from October to September.

Sugar marketing year runs from October to September.

Sugar prices rose 0.35 percent to Rs 3,160 per quintal in futures trade Monday as speculators enlarged positions, supported by summer season demand against tight supplies in the spot markets from millers.

In the national capital's retail market, sugar prices traded higher 50 paise at Rs 39 to Rs 40 per kg.

With sugar prices rising after the Centre rolled out incentives for the industry, Food Minister Ram Vilas Paswan on Wednesday blamed the increase on market speculation and said surplus stocks will help stabilise rates.

Sugar prices continued to rise in the national capital's retail market today and gained up to Re 1 to Rs 40/41 per kg as the government had earlier this week announced measures to help the cash-starved industry.

The Centre's subsidy burden on PDS sugar may go up due to price increases after import duty on the sweetener was hiked, former Food Minister K V Thomas said Tuesday.