Big decision of Modi government on unbridled sugar prices, suddenly changed these rules, now sugar will be cheaper?

Let us tell you that in the last one month, the price of sugar has increased by about 29% from ₹ 48 to ₹ 63 per kg. According to ISMA president Neeraj Shirgaonkar, weather-related problems affected production, while speculation and hoarding put additional pressure on prices. However, there is sufficient stock in the country to meet the demand for the upcoming festive season.

Now, amidst the sudden sharp rise in the prices of sugar, the Modi government has taken a big decision and changed the rules related to its import. The government has amended the import rules of raw sugar. Under this, to curb hoarding of sugar, the government has made refining and selling it within 2 months mandatory. Earlier there was a fixed last date of 31 October 2026 for this. Let us tell you that Modi government has changed the rules related to TRQ import of 10 lakh MT raw sugar.

How much stock does India currently have?
Regarding the rising prices of sugar, Union Minister Pralhad Joshi said that the government is worried about the reduction in production. According to the Union Minister, El Nino conditions have also affected the sugarcane crop. The annual sugar requirement in the country is about 280 lakh tonnes. Whereas India has additional stock of more than 20-25 lakh tonnes. He said that due to this, not only India but also the agricultural production, especially sugar production, across the world has been seriously affected.