Pralhad Joshi reviews sugar stocks, production as prices rise ahead of festive season
The Centre reviewed India’s sugar stocks, production and consumption amid a nearly 10% rise in prices over the past month. Union Minister Pralhad Joshi directed officials to closely monitor availability and ensure adequate supplies ahead of the festive season, after export curbs and stock limits were imposed.
New Delhi: Union Food and Consumer Affairs Minister Pralhad Joshi on Sunday reviewed the country’s sugar stock position, production and consumption requirements as demand is expected to increase during the upcoming festival season, The Tribune reported.
The review meeting with senior ministry officials came amid a nearly 10% rise in sugar prices over the past month.
Joshi stressed the need to closely monitor sugar availability and take timely measures to maintain adequate stocks and ensure a steady supply during the festive period, sources said.
Sugar prices are expected to remain elevated in the coming weeks as supplies remain constrained while demand is likely to increase ahead of the festival season.
The rise in sugar prices could add to retail inflation, which breached the Reserve Bank of India’s target for the first time in 17 months in June.
The government had last month banned sugar exports and imposed stock limits as part of measures to contain prices and ensure adequate domestic availability.
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Source : ChiniMandi
