Many households in India are now worried about the surging prices of sugar. The high price has left many sweet shops struggling in the markets, too. But what’s the main reason behind this surge? Is it hoarding, tight supplies or something else? Read on to find out!
Sugar Prices Rise In India
According to NDTV, the average sugar price in India increased by more than 15% in a month to ₹55.7 per kg on August 20. In Delhi, retail sugar prices have crossed ₹60 per kg, which is concerning. Many Indian homes use sugar daily while making tea and coffee, and they might find themselves paying extra for their monthly grocery expenses.
According to government data, sugar prices have climbed more than 20% in a year, which is honestly quite a lot. The surge has forced the government to allow the duty-free import of 10 lakh metric tonnes of sugar for the first time in a decade. Moreover, the government has also limited the stocking of sugar by bulk consumers and dealers to stop hoarding. Physical verification of stocks has also been directed at sugar mills.
Also Read: Bengaluru Hospital Cafe Slammed For Serving Bread & Sugary Jam To Sick Mother
What’s The Reason Behind The Price Surge?
But now, let’s come to the main question. Why are the prices increasing all of a sudden? According to NDTV, the rise in sugar prices is being attributed to hoarding and tight supplies following a fall in sugarcane harvests caused by flooding in some states. Not just that, less rainfall in top sugarcane-producing states like Uttar Pradesh, Maharashtra and Karnataka has also impacted the sugarcane harvests this year.
Now, there is high demand and less supply of sugar in the market, causing prices to increase rapidly. So, does this mean that sweets in the markets can get costlier too? Yes, it is very much possible that your favourite laddoos and barfis can get more expensive, as sugar is their main ingredient. Sweet shops may increase their prices to cover the extra expenses.
Also Read: You May Have To Pay More For Milk In Maharashtra; Price To Rise By ₹2 Per Litre From Aug 11
What do you think of this? Do you use sugar daily in your home?
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FAQs
Why has sugar price increased in India?
Sugar prices have risen due to tight supplies and lower sugarcane production in India due to poor rainfall.
What is sugar used for?
Sugar is mainly used in Indian households to make tea, coffee, sweets, desserts and many other dishes.
What is sugar made of?
Most household sugar is made from sugarcane.
