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Sugar & Health
ID:
5
Date:
04-11-2011
Headline:
No inflation in sugar
Writer:
Source:
PDF:
The Hindu Business Line in a report on 4/11/2011 titled ‘Food inflation surges to 9-month high’, has reported that food inflation has continued to surge, climbing to its highest level in close to 10 months. The price rise is due to sharp surge in price levels of vegetables, pulses, poultry items and milk during the week, which marked the festival season across the country. Significantly, there is no mention of sugar price in the article even though sugar has a weightage of 1.73% in the WPI Index and it is an important item of consumption by each household. This is because the retail sugar prices have been flat in 2011.
It is interesting to note that sugar prices have remained stable all through the October month. There has been no increase in retail prices of sugar during the festival month when there is usually a pressure on prices due to heightened demand. According to the latest data from the Price Monitoring Cell of Ministry of Consumer Affairs, Food and Public Distribution, the retail price of sugar has remained static through the festive month. In Delhi, the retail price of sugar on 3-10-2011 was Rs 33/kilo, on 25-10-2011 the price was Rs 34/kilo but dipped back to Rs 33/kilo after just two days of Diwali. In Mumbai too, the retail price of sugar on 3-10-2011 was Rs 33, on 25-10-2011 just a day before Diwali, the price dipped by a rupee to Rs 32. If we look at the all India average, the price of sugar has remained flat and stable. On 3-10-2011, sugar price in All India average was Rs 31.93, on 25-10-2011 the price was Rs 32.19 and the price on 4-11-2011 is Rs 31.64 a kilo.
This at a time when we see vegetable prices up by 29 per cent year-on-year, while pulses, fruits and milk were all up 12 per cent each. Eggs, meat and fish were also up nearly 14 per cent on an annual basis, while cereal prices shot up over 4 per cent. This is also despite the fact that cane prices payable to farmers have been only giving up further.
The same paper Hindu Business Line on November 2 had carried a news report titled `Mills curb despatches to cap sugar`s fall`, reporting how traders in Maharashtra are concerned about sharp decline in sugar demand post Diwali. The report suggested that mill tender rates declined by Rs 20-40 a quintal. The usual lower demand after Diwali cooled spot rates further by Rs 5-10 in the Vashi wholesale market.
The paper has also quoted sugar traders belonging to the Bombay Sugar Merchants Association as saying that India will have a higher sugar production for the second consecutive year, which will lead to surplus if exports are not allowed. In view of stable retail sugar prices, increase in cane prices and surplus sugar production in 2011-12, the Government is required to permit 10-20 lakh tons of sugar exports in early November 2011, to ensure continuance of stable retail prices and timely payment of remunerative price to cane farmers.
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