Sugar stock scrutiny on the rise as prices hit record high
The government is increasing scrutiny of sugar stocks due to surging prices. Large industrial buyers are now providing consumption data to the food ministry. Sugar mills must now detail sales of 500 metric tonnes or more annually. Physical stock checks are being conducted at mills across various states. This action follows observations of discrepancies in reported sugar stock data.
In a move to address soaring sugar prices, the Indian government has intensified its scrutiny of sugar stocks, with the Ministry of Food seeking consumption data from major industrial buyers. The food ministry has requested sugar mills to disclose comprehensive details of bulk consumers who purchase 500 metric tonnes or more of sugar annually, either directly or through agents, for the 2025-26 financial year.
This development comes after officials conducted physical stock checks at mills across various states, uncovering instances where sugar stocks sold to bulk consumers were stored in mill godowns but not reflected in the mills' reported stock details. The Ministry of Consumer Affairs has written to sugar mills requesting the requested data on bulk consumer sales.
The government's response to record-high sugar prices includes imposing stock limits on sugar dealers and initiating physical verification of stocks held by mills between August 1 and August 14, according to industry sources.
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- Sugar stock scrutiny on rise as prices hit roofs economictimes.indiatimes.com
