Sugar prices in Nagpur have surged to historic levels just as the festive season approaches, squeezing household budgets.
Wholesale rates have jumped by around Rs 500 per quintal in just the last fortnight, pushing retail prices to Rs 52-54 per kg.In June, “Sugar S” was trading at Rs 4,250-4,280 and “Sugar M” at Rs 4,300-4,350 per quintal. Rates then climbed to Rs 4,450-4,470 for Sugar S, before the recent sharp spike.
Currently, wholesale markets are quoting Sugar S at Rs 4,820-4,850 and Sugar M at a record Rs 4,920-4,950 per quintal.With demand expected to rise further during the festive period, attention has turned to the government’s next move — whether it will raise the monthly supply quota for sugar mills or take other steps to rein in prices.
Traders and consumers say only additional sugar stock released into the open market by the central government is likely to check the sharp price rise.
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