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Sugar & Health
ID:
1
Date:
17-10-2011
Headline:
Sugar prices respond to festive call
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A business newspaper carried a report today that sugar prices are witnessing an upward trend due to festive demand. The paper reported that sugar prices have inched up by 3-4 percent following a pickup in festive demand of sugar after a gap of almost three to four months. The paper has quoted President, Bombay Sugar Merchants Association saying that wholesale sugar price has gone up by Rs 1.5/kg in the last one week, however this is factually incorrect. According to Ministry of Consumer Affairs, Food and PD, the exmill/wholesale price increase during the last one week has been only between 11 paisa to 45 paisa per kilo.
Commenting on the news, Abinash Verma, Director General, ISMA said, “While the exmill prices have slightly improved, the domestic retail prices have not moved up at all. The exmill prices in both the two important sugar producing States, namely, Maharashtra and U.P despite the slight improvement, continue to be below the cost of production of sugar.” He further added, “Any increase in sugarcane price in the new sugar season will need the exmill prices to improve further to ensure that cost of production gets recovered. The gap between exmill prices and retail prices is still quite large, thus giving abnormal profit to traders. The improvement in exmill prices may not impact the retail prices.”
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