- Sugar will be cheaper!
- The prices fell by 18 percent in one fell swoop
- But how? Find out why
Sugar Price Drop: The news that pleases the general public has come out. The price of sugar, which has been stagnant for some days, is now going to come down. So now in the time of inflation, there has been a pleasant shock. The central government has said that these results have been seen after the government allowed the import of sugar and cracked down on hoarding and speculation. Exactly how much the price of sugar has fallen and what provision has been made” Price )
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The factory rate of sugar has fallen by 18 per cent to Rs 55 per kg. Last week, the rate had reached a record high of Rs 67 per kg. Food Secretary Sanjeev Chopra said that the recent increase in sugar prices is not due to shortage of sugar in the market. The government made it clear that there is sufficient stock available in the country.
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Last week, the government allowed duty-free import of 1 million tonnes of raw sugar. Storage limits for wholesale buyers were also reduced and states were directed to intensify inspections to monitor hoarding and speculation. According to the Food Secretary, some factories had increased the rates, but now the factory rates are coming down rapidly. Bharari teams have also been deployed across the country to curb hoarding.
According to the National Federation of Cooperative Sugar Factories, at present the ex-factory price of sugar is not more than Rs 55 per kg in any state and it is likely to come down further in the coming days.
When will this relief reach home?
The full benefit of the fall in factory prices is yet to reach the general consumer. On August 24, the average wholesale rate of sugar in the country was Rs 58.29 per kg and retail rate was Rs 63.05 per kg. This means that sugar is starting to get cheaper at the factory level, but it may take some time to have an effect on the shops. Generally, the difference between ex-factory and retail rates is around Rs 7-8 per kg.
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