Economy News

Sugar prices are on the rise as production falls by 9% Government to release extra quota to provide relief to consumers

Sugar prices are on the rise as production falls by 9% Government to release extra quota to provide relief to consumers

Sugar prices have started to increase due to a decrease in production by 9% compared to last year. Retail prices have risen by Rs 1.25 per kg over the last month, from Rs 41.05 per kg on April 2 to Rs 42.30 per kg on May 2. Similarly, wholesale prices have increased by Rs 124 per kg during the past month, from Rs 3,805 per kg on April 2 to Rs 3,929 per kg on May 2. Last year, sugar production was 357 lakh tonnes, and the government exported 100 lakh tonnes. However, this year's production is expected to be around 327 lakh tonnes, 9% lower than last year's output. Sources have informed us that sugar prices are rising due to the fall in estimated output. To provide relief to consumers, the Food and Consumer Affairs Department is expected to release an extra quota of sugar in the coming days.

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