Centre lifts stock limit on sugar to check price fall

Centre lifts stock limit on sugar to check price fall

The government on Tuesday withdrew the stock limit imposed on sugar traders in a bid to control the falling price of the sweetener.

"Given the current comfortable position of production and in order to further ease the  supply chain for easy availability of sugar in all regions, government has withdrawn stock holding and turnover limits on dealers of sugar with immediate effect," Food and Consumer Affairs Minister Ramvilas Paswan said here.

On the back of a good sugar cane harvest, sugar production in the 2017-18 marketing season beginning October is estimated at 249 lakh metric tonnes, which is just about the total domestic demand.

In addition, the government said there was adequate carryover stock, which would ensure sufficient availability of sugar all year through.

"As such, there will be smooth availability of sugar and sugar price in the domestic market is expected to remain stable at reasonable levels," Paswan said.

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