Weekly updation of sugar stocks by traders, processors and others no longer required: Government of India
The Indian government has decided to end the mandatory weekly disclosure of sugar stocks by traders, dealers, and retailers, citing sufficient sugar availability to meet domestic demand. This directive, communicated to state food secretaries, replaces previous requirements established to monitor sugar stocks and control retail prices. The government had earlier mandated weekly stock updates on a dedicated portal, but now emphasizes ongoing monitoring of sugar prices and production. This move aims to reduce reporting burdens while maintaining oversight of the sugar market.
The government of India has decided to discontinue the mandatory weekly disclosure of sugar stocks by traders/dealers/wholesaler/big chain retailers/processors. The decision comes after a review of sugar prices, production, and availability across the country, which confirmed that there is a sufficient quantity of sugar available to meet domestic demand throughout the year.
The order, addressed to the Principal Secretary/Secretary (Food) of all states, states that the weekly stock updates previously required from traders/dealers/wholesaler/big chain retailers/processors are no longer necessary. This directive follows the advisory issued last year, and the order from the government, which had initially mandated the regular updates.
Earlier, on September 21, 2023, in an effort to monitor sugar stocks more closely and to keep retail prices under control, Government has issued orders to mandatory disclose stock position of sugar for them on the portal (https://esugar.nic.in) of Department of Food and Public Distribution on every Monday.
The government has emphasized that it will continue to monitor the prices, production levels, and overall sugar availability on a periodic basis and will take further action if required to ensure a stable sugar market.
This move is expected to ease the reporting burden on businesses in the sugar supply chain while still ensuring that the government can intervene if there are any future concerns regarding sugar supply or price fluctuations.
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Source Link : https://www.tbsnews.net/economy/govt-approves-bulk-imports-rice-wheat-sugar-lng-fertiliser-986216
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