New Delhi, Aug. 21 -- The Centre said that the present increase in sugar prices is due to a combination of factors, including lower-than-expected domestic production, increased demand ahead of the festive season, weather-related damage to the sugarcane crop, tightening global sugar supplies and speculation and hoarding by some sections of the industry.

According to the Ministry of Consumer Affairs, Food & Public Distribution, the Centre is closely monitoring market developments and has initiated a series of regulatory and supply-side measures to maintain availability and price stability for consumers.

The government has acted to curb sugar price rise and ensure adequate availability during the festive season following an upward movement...