New Delhi: With sugar production expected to be 9 per cent lower than last year, sugar prices have already started rising as the retail market has increased by Rs 1.25 per kg in the last month. The retail price of sugar increased from Rs 41.05 per kg on April 2 to Rs 42.30 per kg on May 2.
Similarly, the wholesale price has increased by Rs 124 per kg during the last one month. The wholesale price of sugar has increased from Rs 3,805 per kg on April 2 to Rs 3,929 per kg on May 2.ALSO READ: AI-generated pictures of Ratan Tata, Mukesh Ambani and other billionaires working out in the gym go viral – see how they look,
Sources said last year sugar production was 357 lakh tonnes and the government had exported 100 lakh tonnes. ,Also Read: Google I/O Event 2023: Top 5 Expected Launches,
This year also the production was expected to be high, but suddenly the production estimate fell and now it is expected that the production this year may be 9 percent less than last year and may be around 327 lakh tonnes.
Sources said that due to fall in the estimated production, the prices of sugar are increasing.
To give relief to the consumers, the Department of Food and Consumer Affairs is expected to release additional quota of sugar in the coming days, he said.