Government fixes 22 LMT monthly sugar quota for domestic sale in August 2024 with extension for July quota
On July 26, the food ministry allocated a monthly sugar quota of 22 lakh metric tonnes (LMT) for August 2024, down from 25.5 LMT in August 2023. The quota, effective from August 1, 2024, follows a July 2024 allocation of 24 LMT. The July quota validity is extended to August 15, 2024. Experts expect balanced market conditions with possible price increases of Rs. 30 to 50 per quintal due to high demand from festivals and ongoing flood situations.
n an announcement on July 26, the food ministry allocated a monthly sugar quota of 22 lakh metric tonnes (LMT) for August 2024, which is less than the quantity allocated in August 2023 (25.5 LMT). This quota will be applicable from August 1, 2024.
In July 2024, the allocated sugar quota for domestic sale was 24 LMT.
Additionally, the validity of the sugar sales under the monthly quota for July 2024 has been extended to August 15, 2024.
According to market experts, the announced sugar quota for August appears to be balanced, and there will be no pressure on the domestic market. Due to festivals in August, there will be good demand, and the market may witness a price increase of Rs. 30 to 50 per quintal. Considering the flood situation, the government has also extended the sugar sales quota for July.
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