New Delhi, Aug. 27 -- Sugar prices eased marginally on Thursday to Rs 64.33 per kg in the retail market following the government's measures to allow imports, imposition of stockholding curbs and crackdown on hoarders.
As per data compiled by the Department of Consumer Affairs, the all-India average rate of sugar is ruling at Rs 64.33 per kg on Thursday, a marginal drop from Rs 65.05 per kg on August 26.
Retail prices of the sweetener remained high despite a nearly 20 per cent decline in ex-mill rates after the government's decision to allow duty-free imports of 10 lakh tonnes of raw sugar.
The current average price of sugar is 31 per cent higher than the month-ago level and 39 per cent higher than the year-ago prices.
The data showed that the maximum selling price on Thursday was Rs 76 per kg, while the modal rate was Rs 65 per kg.
In a statement on Thursday, Indian Sugar & Bio-energy Manufacturers Association (ISMA) said, "Sugar prices have corrected by nearly 20 per cent from recent highs, with supply-side measures and improved market visibility beginning to reflect in the market. The correction is expected to continue as festive buying normalises and fresh sugar becomes available over the coming weeks".
Published by HT Digital Content Services with permission from Millennium Post.