Govt not to set sugar stock limits
The Centre on Monday ruled out imposing limit on stocks of sugar a trader can keep, amid speculations that such curbs might be slapped to check possible hoarding and contain the price rise.
By Agencies |
NEW DELHI: The Centre on Monday ruled out imposing limit on stocks of sugar a trader can keep, amid speculations that such curbs might be slapped to check possible hoarding and contain the price rise. ���There is no plan to impose stock limits (on sugar) as of now,��� food and agriculture minister Sharad Pawar said on the sidelines of a conference here.
In local markets, sugar prices have risen dramatically this season, starting October, due to a projected 32% decline in the output to 18 million tonnes, prompting the government to allow millers to import duty-free sugar and sell in the domestic market.
Trade sources were anticipating curbs on stocks, keeping in mind the general elections this year. According to the
consumer affairs ministry, retail prices of sugar have shot up to Rs 25 in some of the major cities on February 13 from Rs 20 in the beginning of the 2008-09 season.
In local markets, sugar prices have risen dramatically this season, starting October, due to a projected 32% decline in the output to 18 million tonnes, prompting the government to allow millers to import duty-free sugar and sell in the domestic market.
Trade sources were anticipating curbs on stocks, keeping in mind the general elections this year. According to the
consumer affairs ministry, retail prices of sugar have shot up to Rs 25 in some of the major cities on February 13 from Rs 20 in the beginning of the 2008-09 season.
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