Sugar prices rise by nearly Re 1 per kg to about Rs 64
Sugar prices rose by nearly Re 1 per kg to Rs 63.97 in the retail market on August 25, despite recent government steps to curb the surge. The average retail price has risen 31% in a month from Rs 48.81 per kg and is 38% higher than a year ago. Wholesale prices have also climbed to Rs 59.23 per kg from Rs 45.35 a month earlier.
Sugar prices surged by nearly one rupee per kilogram on Tuesday, reaching around Rs 64 in the retail market, according to the latest data from the Department of Consumer Affairs. Since Monday, the average rate climbed to Rs 63.05 per kg. All-India average reached Rs 63.97 per kg, marking a 31% rise from Rs 48.81 per kg a month prior. This price increase is also 38% higher than last year's rate of Rs 46.31 per kg.
The maximum selling price on Monday was recorded at Rs 76 per kg, while the modal rate stood at Rs 65 per kg. Despite the government and sugar industry bodies reporting a decline in ex-mill rates over recent days, the effects on retail prices remain to be seen. In the past month, wholesale sugar prices soared to Rs 59.23 per kg, up from Rs 45.35 per kg a month ago and Rs 43.01 per kg a year ago.
Food Secretary Sanjeev Chopra attributed the ex-mill price cut of 18% to Rs 55 per kg to the government's decision to permit imports and curb speculation and hoarding. However, he emphasized that this decline was not grounded in market fundamentals, as India currently possesses ample sugar stocks despite the 2025-26 marketing year's production. To tackle the price surge, the Centre has permitted imports of 10 lakh tonnes of raw sugar by October 31, imposed storage limits on dealers and bulk consumers, and banned exports.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
