New Delhi, Sept. 9 -- There is no reason to panic over the recent spike in sugar prices as there is enough sugar available in the market, while imports and the arrival of new-season sugar are expected to further augment supplies ahead of Diwali, Ravi Gupta, Executive Director, Shree Renuka Sugars Ltd, said on Wednesday.

"I do not see any reason to panic at all. In the commodity market, the spike happens upside, and there also spike happens downside. You have seen in the last few days, the prices have dropped down by 25 per cent and if you look at the statistically also and the whole industry also, there is enough sugar in the market and it will be also topped up with the imports which have been announced," Gupta said.

Speaking to ANI on...