Sugar to become cheaper before festivals:Govt tells traders to sell sugar at affordable prices; stock limit raised from 15 to 30 days

The central government has increased the stock limit for bulk consumers to 30 days to prevent hoarding and control prices ahead of the festive season. The move means that sweets manufacturers, bakeries and food-processing companies will not face a shortage of sugar during the festive season. Bulk consumers are companies or industrial units that use more than 10 tonnes of sugar every month as a raw material. Until now, these companies could keep stock equivalent to only 15 days’ requirements. The government has told traders to provide sugar to people at affordable prices. This condition will have to be met to maintain an additional 15 days’ stock The government has said that sugar procured from the local market cannot be stocked for more than 15 days. If sugar is to be stocked for more than 15 days, up to 30 days, the additional stock must consist only of sugar brought in from abroad, or imported sugar. This has been done to ensure that there is no shortage of sugar in the country’s local market and that prices remain under control. Sugar stock details must be submitted on the portal every Friday The government has introduced a new rule to prevent the hoarding and black marketing of sugar. All large companies that use sugar will now have to report every Friday on the Food Ministry’s portal, foodstock.dfpd.gov.in, how much stock they have left. Factory prices fall 25%, retail prices drop only 10% Sugar has become 25% cheaper at factories, but its price in shops has fallen by only 10%. Sugar that cost ₹65 per kilogram in August is now priced at ₹58.50. The government has told retailers to immediately pass on the full benefit of falling sugar prices to customers.