Govt withdraws sugar stock holding limits as prices stabilise

The government on Tuesday said it has withdrawn stock holding and turnover limits on sugar dealers with immediate effect as […]

   

The government on Tuesday said it has withdrawn stock holding and turnover limits on sugar dealers with immediate effect as demand-supply situation is likely to be comfortable with the estimated rise in production. Prices are also expected to remain stable at reasonable level, the food ministry said in a statement. Sugar production of India, the world’s second largest producer, is estimated to increase at 249 lakh tonnes in the 2017-18 marketing year (October-September) from 203 lakh tonnes in the previous year. “During the current sugar season 2017-18, crushing operations in all major sugar producing states has commenced smoothly. The total sugar production is estimated to be around 249 lakh tonnes by the end of the season against estimated consumption requirement of about 250 lakh tonnes,” Food Ministry said in a statement. With the carry over stock, the ministry said the total availability of sugar is sufficient to meet the estimated domestic demand. There would be smooth availability of sugar and prices in the domestic market are expected to remain stable at reasonable levels, it added. “Given the current comfortable position of production and in order to further smoothen the supply chain for easy availability of sugar in all regions, the government has withdrawn stock holding and turnover limits on dealers of sugar with immediate effect,” the statement said. The stock holding and turnover limit was imposed till December this year.

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