New Delhi, Aug. 28 -- Ex-mill sugar prices have declined by around 20 per cent in recent days, while retail prices have also started moving lower, as the government stepped up measures to improve market availability and prevent artificial tightening of supplies ahead of the festive season, the Ministry of Consumer Affairs, Food & Public Distribution said in a press release on Friday.

The Ministry said the recent spike in sugar prices was primarily driven by hoarding and speculation, rather than an actual shortage, with nationwide physical verification of stocks confirming adequate availability. In several cases, sugar mills were found to be holding stocks higher than those declared in their monthly returns submitted to the government.

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