New Delhi, Sep 5 (IANS) Domestic sugar prices have risen by 3 per cent in the last 15 days to their highest levels in six years, according to industry sources.Owing to shortfall in rains in the sugarcane growing regions, the prices have risen even as the festival season is round the corner, when consumption of sweets is set rise multifold.
This could add to food inflation and discourage the government from allowing sugar exports, supporting global prices which are near their highest in more than a decade.
Sugar prices rose to Rs 37,760 per metric tonne on Tuesday, highest since October 2017.
Keeping in view the strong demand for sugar during the upcoming festival season, an additional quota of 2 lakh metric tonnes (over and above 23.5 LMT allocated for the month) was allocated for August by the government.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.