Date : Jan-15-2009 17:28
Since January 2008 the price of sugar has grown by 50%. In order to contain this inflationary trend in sugar prices, the government is expected to take a decision on raw sugar imports (on a tonne-to-tonne basis) within a fortnight and increase domestic supply manifold. Wholesale sugar price between time span of January 1, 2009 and January 9, 2009 in Kolkata was Rs 120 per qtl, in Mumbai it was Rs 156 per qtl and in Delhi it was just Rs 40 per qtl. The surge in the prices of sugar in the beginning of 2009 was due to low output of 180 lakh tonnes in 08-09 sugar year as compared to earlier estimates of around 220 lakh tonnes.
The government is likely to allow import of raw sugar on a tonne-to-tonne basis soon to meet the shrunken supply situation. The food ministry is likely to take a decision within a fortnight. As per NCDEX data wholesale price for sugar registered a significant growth of 50% over the period prior to January 2008 in Mumbai. In Kolkata it surged 45% and in Delhi it shot up as much as 46% during that period.
Since January 2008 the price of sugar has grown by 50%. In order to contain this inflationary trend in sugar prices, the government is expected to take a decision on raw sugar imports (on a tonne-to-tonne basis) within a fortnight and increase domestic supply manifold. Wholesale sugar price between time span of January 1, 2009 and January 9, 2009 in Kolkata was Rs 120 per qtl, in Mumbai it was Rs 156 per qtl and in Delhi it was just Rs 40 per qtl. The surge in the prices of sugar in the beginning of 2009 was due to low output of 180 lakh tonnes in 08-09 sugar year as compared to earlier estimates of around 220 lakh tonnes.
The government is likely to allow import of raw sugar on a tonne-to-tonne basis soon to meet the shrunken supply situation. The food ministry is likely to take a decision within a fortnight. As per NCDEX data wholesale price for sugar registered a significant growth of 50% over the period prior to January 2008 in Mumbai. In Kolkata it surged 45% and in Delhi it shot up as much as 46% during that period.
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