Indian sugar prices down 25% over the past week at the mill level
Retail prices show signs of easing as government measures to tackle the surge begins to pay dividends
Indian sugar prices have dropped by 25% over the past week at the mill level, following various measures taken by the Indian government. Mill-gate prices have declined about 25% after previously surging over ₹6,700 per quintal. Retail prices of the commodity have decreased to ₹64.33 per kg from ₹65.07, with prices across cities ranging between ₹60 (Mumbai) and ₹64 (Chennai).
Wholesale prices of sugar have fallen by ₹50-300 per quintal, with the maximum fall observed in Kolkata and Hyderabad. Mill tender rates are now at ₹4,850, while Sonhira Sugars offered 1,400 tonnes at ₹4,900. Resale sugar, typically purchased from factories through tenders, is quoted at ₹5,040-5,100 per quintal for S-30 grade. Uppal Shah, Chairman & Managing Director of JK India eAgriTech Ltd., expressed optimism, stating that the prices have cooled considerably and are trading below ₹5,200-5,400 per quintal.
This trend is expected to reflect in the retail market soon, making it possible to celebrate the festival with affordable sugar. The government implemented measures to free up held-up stocks and allow duty-free imports to address tight supplies and weather concerns. Additionally, 4-5 sugar shipments carrying about 2 lakh tonnes have started arriving from exporting countries, with refined sugar expected to alleviate supply issues ahead of the festival season.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
