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Festive season sees sugar prices go up in Telangana
The prices of sugar are ruling the roost in the open market. The commodity price recorded an increase of over Rs 10 per kg during the last one year. Around the same time last year, a kg of sugar was sold at Rs 27. Taking advantage of the festival season, the traders are selling it at Rs 45 a kg at some places now. With the increase in sugar prices, the prices of sweetmeats will increase.
Hyderabad: The prices of sugar are ruling the roost in the open market. The commodity price recorded an increase of over Rs 10 per kg during the last one year. Around the same time last year, a kg of sugar was sold at Rs 27. Taking advantage of the festival season, the traders are selling it at Rs 45 a kg at some places now. With the increase in sugar prices, the prices of sweetmeats will increase.
The increase in sugar prices is attributed to decrease in the area of cultivation under sugarcane across the country. According to Union Agriculture Ministry statistics, the area under sugarcane crop was reduced to 45 lakh hectares as against 50 lakh hectares previously, leading to a drop in sugar production which in turn led to jacking up of its price in the open market. The hike in sugar price is recorded between 30-35 per cent during the past one year. Further, retail traders created an artificial scarcity of the commodity. The inflation has affected the budget of middle classes and people belonging to the lower strata of society.
Allotment of sugar to open market sale is decided by the Centre depending on the production at sugar mills. The retailers are selling the commodity at Rs 30 to 35 a kg, but at some places it is being sold at Rs 45 a kg.
Experts say that prediction of the shortage of sugar led to its prices going up in futures’ market and consumers’ market. The demand for the commodity in the country is estimated at 26.5 million tons. The prices are likely to come down after October with the commencement of the crushing season.
Meanwhile, the consumers have been demanding increasing supply of sugar by at least half a kg as only half a kg is being sold through the fair-price shops. The sweetmeat shop owners are expressing their inability to raise the cost of sweetmeats as it would mean loss of business. Several organisations have been demanding either fully controlling the prices of commodities like sugar or supplying it through the FP shops.
