Mumbai sugar shock: Prices jump Rs 8/kg, set to touch Rs 61
Mumbai sugar retail prices have surged ₹8 per kg in one week to a record ₹58, driven by tighter domestic availability, rising festive-season demand and increased diversion of sugarcane toward ethanol blending. APMC traders expect prices to rise further to around ₹61 per kg.
MUMBAI: The retail price of sugar has risen by a shocking eight rupees per kg this week in parts of Mumbai.
Sugar sold for Rs 50 per kilo around Aug 10 but has now soared to a record high of Rs 58. It is expected to rise further to Rs 61, say APMC traders.
They say the sharp rise is driven by lower availability for domestic consumption, higher demand ahead of the festival season and diversion towards newer adaptive uses like ethanol fuel blending.
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Source : The Times Of India
