The prices have risen by around 3% from the level seen two weeks back.
Trade sources told FE that the possibility of decline in production next season (202324) starting on October 1, could force the government against granting sugar exports quota for ensuring adequate domestic supplies.
The government is also considering a proposal to impose stock holding limits for wholesalers, prescribing the maximum quantity of sweetener they can keep in order to check any price rise. The last stock limits were imposed for the sweetener in 2016.
Sources said ex-mill prices of sugar had increased by 3/kg to 37/38 a kg from 34/35 a kg, which prevailed a fortnight back.
This story is from the September 07, 2023 edition of Financial Express Mumbai.
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This story is from the September 07, 2023 edition of Financial Express Mumbai.
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