Government fixes 24 LMT monthly sugar quota for domestic sale in July 2024
On June 26, the food ministry announced a sugar quota of 24 lakh metric tonnes (LMT) for July 2024, matching the allocation in July 2023. This quota, effective from July 1, follows a June 2024 allocation of 25.50 LMT. Market experts predict this quota will drive a domestic price increase of Rs. 15 to 20 per quintal. The consistency in the quota suggests stable but slightly higher sugar prices in the near term.
In an announcement on June 26, the food ministry allocated a monthly sugar quota of 24 lakh metric tonnes (LMT) for July 2024, which is similar to quantity allocated in July 2023 (24 LMT). It will be applicable from July 1, 2024.
In June 2024, the allocated sugar quota for domestic sale was 25.50 LMT.
According to market experts, following the quota announcement, the domestic market can witness price rise of Rs. 15 to 20 per quintal.
Source Link : https://www.chinimandi.com/government-fixes-24-lmt-monthly-sugar-quota-for-domestic-sale-in-july-2024/
