The Price Of Sugar In The Country Is Soaring; In Summer, It Is Estimated That There Will Be Further Increase

The price of sugar in the country is soaring. Decrease in production and increase in demand is the cause of price increase. Increased production of soft drinks during the summer also boosted the demand for sugar. The rise in domestic sugar prices has also boosted the profits of sugar manufacturing companies. Balrampurchini, Sri Renuka Sugars, Dalmiya Bharat Sugar, Dwarikesh Sugar etc. are prominent sugar manufacturing companies. It is also estimated that the increase in the price of sugar will cause the increase in food prices. There has also been a huge increase in global sugar prices. International sugar prices are now at their highest levels in the last few years.

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Rising prices in the country have also affected India’s surplus of sugar exports. The central government has imposed restrictions on excess exports with the aim of preventing price increase. Ashok Jain, president of the Bombay Sugar Merchants Association, said that the main reason for the price hike was lower production in states like Maharashtra, which are the largest producers of sugar. It is estimated that bulk buying will take place during the summer season. He said that there will be an increase in the price of sugar in the coming months as well.

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During 2022-23, Maharashtra produced around 10.5 million tonnes of sugar, according to estimates for the marketing year ending September 30. It is expected to produce 13.7 million tonnes. Last year, the demand for sugar decreased due to the Covid crisis. But the figures are reaching a record production of 28 million tonnes in this marketing year.

With the onset of summer in the country, there is a huge increase in the sale of cold drinks, ice cream etc. From April to June, their sales generally go up. During this period, the wedding season also causes the demand to increase to a great extent.

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