Tezzbuzz Desk- Before the beginning of the festive season, news has come out that increases the concern of the common people. There is a sudden sharp rise in the prices of sugar in Madhya Pradesh. Within just 18 days, the price of sugar has increased by about Rs 18 per kg. The price of sugar in the wholesale market of Bhopal has now reached around Rs 61 per kg. Traders say that such a huge increase in the price of sugar has not been seen before in such a short period of time. This increase in the prices of sugar has happened at a time when the festival season is about to start in the country. During festivals, the demand for sugar in sweets and other food items increases significantly. In such a situation, if the rise in sugar prices continues, it may have a direct impact on the prices of sweets. This means that this time people may have to spend more money than before to buy sweets on festivals.
According to traders, there are many reasons behind the rise in sugar prices. The most important reason among these is said to be the stock limit of sugar set by the government. Traders say that at present the central government has increased the sugar stock limit considerably. They believe that reducing the stock limit in the market can increase the availability of sugar and reduce pressure on prices. According to traders, the stock limit affects the availability and supply of sugar in the market. If sufficient quantity of sugar is available in the market, it can help in controlling the prices. At the same time, if the difference between supply and demand increases, there is a possibility of a rise in prices. At present, the effect of this situation is being seen in the wholesale market.
The second major reason for sugar becoming expensive is the increasing use of sugarcane in ethanol production. Under the ethanol blending policy of the government, sugarcane and its related products are used to make ethanol. Using a part of sugarcane for ethanol instead of sugar production may affect sugar production. In such a situation, when the availability in the market is less than the demand, the prices start increasing. The continuous rise in sugar prices will not affect only the consumers who buy sugar directly. It may also impact the cost of sweets, bakery products, beverages and many other food items. Due to increased demand for sweets especially during festivals, it can be challenging for shopkeepers to manage the increased costs. Some part of this is likely to reach the customers in the form of increased prices.
Now the biggest question is whether sugar will become more expensive in the coming days? Traders believe that if the current uptrend continues and supply pressure persists in the market, prices may increase further. However, the actual trend of prices will depend on production, government policies, stock and demand in the coming days. At present, the price of sugar, which has reached Rs 61 per kg in the wholesale market of Bhopal, has increased the concern of both businessmen and common people. Considering the increase of about Rs 18 per kg in just 18 days, the coming festive season may prove to be heavy on the pockets of consumers. If there is no relief in prices soon, this time there is a possibility that along with sweets, the daily kitchen budget will also be affected.