The average retail price of sugar in India has fallen by 3.85% in a week to ₹62.57 per kg, following government measures to control rising prices.
The average wholesale price also dropped from ₹60.39 to ₹57.62 per kg during the same period. However, retail prices may take time to fall because shops still have stocks purchased at higher prices.
The government has allowed the import of 10 lakh tonnes of sugar and tightened stockholding limits for bulk users and dealers. Despite the recent decline, sugar prices remain around 27% higher than the previous month.
Industry sources said it could take about 10 days for lower wholesale prices to fully reflect in retail markets as retailers sell their existing inventory and purchase fresh stock at reduced rates.
