Sugar Prices Fall By Rs 15 As Supplies Rise; Onion Prices Also Ease | Check New Rates

Jagran Correspondent, New Delhi: Government efforts to increase sugar supplies and prevent stockpiling are beginning to show results, with prices falling sharply over the past few days. Sugar, which had climbed to Rs 68 per kg just a week ago, has now come down to around Rs 53-55 per kg. Onion prices have also started declining, with rates in Nashik falling by Rs 8 per kg in just three days.

The government is taking several steps to bring more sugar into the market, including allowing duty-free imports, releasing pending domestic quotas and tightening stock limits for traders and large buyers. Similarly, onion buffer stocks are being released to increase availability and keep prices in check and affordable for consumers.

Sugar prices have declined across several markets. In Maharashtra, prices have fallen to around Rs 51-52 per kg, while wholesale rates in Kolkata have dropped to approximately Rs 53 per kg.

However, consumers may have to wait a little longer to see the full impact of the decline. More imported sugar is expected to reach the country in the coming weeks. Sugar already stored at ports will also be refined and brought into the domestic market. Along with the release of unsold domestic sugar quotas, this is expected to increase supplies and put further downward pressure on prices.

The government claims that concerns over lower sugar production because of adverse weather conditions contributed to the recent price surges and may have encouraged some suppliers to hold back stocks, creating an artificial shortage and pushing prices higher.

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In response, the government has prepared to allow the duty-free import of 1 million tonnes of raw sugar. Four consignments, each carrying around 80,000 tonnes, have already left ports in exporting countries and are expected to arrive soon.

Once the consignments reach India, the imported raw sugar will be refined before being released into the domestic market. In addition, an estimated 300,000-400,000 tonnes of sugar are already stored at ports across the country. The government has accelerated the refining of this stock so that it can reach consumers sooner.

Moreover, the government has also directed the authorities that sugar quotas allocated for August but not yet released into the market should be made available to increase market supplies and reduce prices.

Stock limits have also been imposed on sugar dealers. Traders will be allowed to hold a maximum of 400 tonnes of sugar until November 30. From September 1, large wholesale consumers will also be restricted from holding stocks exceeding their estimated 15-day consumption requirement.

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To ensure that these restrictions are followed, joint teams from the centre and state governments have been carrying out inspections. So far, the teams have conducted raids at more than 1,000 locations to check stocks and identify possible hoarding.

Onion Prices Fall in Nashik

The government has taken similar steps to control onion prices, and the impact is already visible in Nashik, the country’s largest onion market.

On Monday, onion prices in Nashik were around Rs 50 per kg. By Wednesday, they had fallen to approximately Rs 42 per kg, marking a drop of Rs 8 per kg in just three days.

Meanwhile, Consumer Affairs Secretary Nidhi Khare has made it clear that there is no shortage of onions in the country and that sufficient stocks are available to meet domestic demand. Onion production this year is estimated at 30.737 million tonnes, almost the same as last year’s 30.767 million tonnes.

Onions are also being released into the market from the government’s buffer stock. In major cities across the country, including Delhi, the government is set to make onions available at Rs 35 per kg. These onions are part of the government’s 1.20 lakh tonnes (120,000 tonnes) buffer stock.