Government fixes 23.5 LMT monthly sugar quota for domestic sale in September 2024
The Food Ministry announced a monthly sugar quota of 23.5 lakh metric tonnes (LMT) for September 2024, lower than the 25 LMT allocated in September 2023. This move aims to maintain market stability during upcoming festivals, with market experts predicting a slight price fluctuation of around 1% but overall stability in the domestic market.
In an announcement on August 28, the Food Ministry allocated a monthly sugar quota of 23.5 lakh metric tonnes (LMT) for September 2024, which is lower than the quantity allocated in September 2023. This quota will be effective from September 1, 2024.
For September 2023, the government had released a quota of 25 LMT, and for August 2024, the quota was set at 22 LMT. Additionally, the validity of the sugar sales under the monthly quota for July 2024 was extended to August 15, 2024. The allocated sugar quota for domestic sale in July 2024 was 24 LMT.
According to market experts, the quota has been allocated with upcoming festivals in mind. The government aims to maintain market stability. Given the quota allocation, the domestic market is expected to experience a 1 per cent price fluctuation (+-) but will remain stable overall.
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Source Link : https://www.chinimandi.com/government-fixes-23-lmt-monthly-sugar-quota-for-domestic-sale-in-september-2024/
