New Delhi: The government and the sugar industry are working together to ensure that sugar remains available to consumers at reasonable prices during the upcoming festive season, Indian Sugar and Bio-energy Manufacturers Association (ISMA) Director General Deepak Ballani said on Thursday.
With Dussehra and Diwali approaching, Ballani said maintaining adequate sugar supplies and keeping retail prices affordable remain priorities for the government and the industry.
Speaking to IANS, Ballani said retail sugar prices have already started coming down and are expected to decline further in the coming weeks.
Sugar Prices Have Already Started Moderating
According to Ballani, sugar supplies in the domestic market remain adequate, while efforts are underway to keep prices under control during the festive season.
He said there is generally a time lag between changes in ex-mill sugar prices and retail prices because lower wholesale costs take time to pass through the supply chain.
Ballani said ex-mill sugar prices have already declined by around 25-30 per cent, with the pan-India average ex-mill price currently at about Rs 4,450 per quintal.
Retail Sugar Prices Expected to Fall Further
ISMA said the reduction in ex-mill prices is expected to gradually reflect in retail markets as traders and other participants adjust to the lower cost levels.
Ballani said retail sugar prices are likely to correct further with time as the benefits of lower ex-mill prices move through the supply chain.
The government and the sugar industry are also focusing on ensuring sufficient availability of sugar during the festive period, when demand typically increases because of Dussehra, Diwali and other celebrations.