Retail sugar prices fall for first time in a week after import move
All-India average retail sugar price fell to ₹64.33/kg from ₹65.06 a day earlier after the Centre allowed duty-free imports of 1 million tonnes of raw sugar.
Retail sugar prices dropped for the first time in a week on Thursday, following the government's decision to allow duty-free imports of 1 million tonnes of raw sugar. The all-India average retail price fell to ₹64.33 per kg, down from ₹65.06 the previous day, according to the Consumer Affairs Ministry's data. This marked a 31% increase compared to last month and a 39% rise compared to the same time last year when prices were at ₹46.40 per kg.
The Centre permitted duty-free imports on August 20, the first such move in nearly a decade, to increase domestic supplies ahead of the festival season, as ex-mill prices had reached record highs. Despite the wholesale and mill prices easing, retail prices have historically lagged behind. Agri expert and founder of HnyB, Deepak Pareek, noted that while he doubts sufficient quantities are available, the drop in wholesale prices is starting to reflect in retail prices.
The easing in retail prices follows tighter stockholding limits and a 18% reduction in ex-mill prices due to the government's measures against hoarding and speculation. However, retail prices remain significantly higher than previous levels, with some states experiencing prices as high as ₹75.50 per kg.
Written by urgent.news from Hindustan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
