Sugar costlier by up to Rs 2 per kg on import duty hike
24/06/2014 18:01
Sugar prices today further rose by up to Rs 2 per kg to Rs 33.40 at the wholesale market in the national capital following a slew of measures by the government including hike in import duty to bail out the industry, reported PTI. Taking cues from the wholesale market, retail prices also increased by Rs 2 per kg to Rs 39-40 per kg, as per the media reports. Traders said that prices may further go up in the coming days as millers are not releasing the stock in anticipation of better returns, as per the media reports. There is more than 60 per cent drop in arrivals to 5,000 bags of 100 kgs in the wholesale market today as against 13,000 bags yesterday, they added. Traders mentioned that prices are on the rise also because of increase in summer demand for the sweetener by ice-cream and soft drink makers.
24/06/2014 18:01
Sugar prices today further rose by up to Rs 2 per kg to Rs 33.40 at the wholesale market in the national capital following a slew of measures by the government including hike in import duty to bail out the industry, reported PTI. Taking cues from the wholesale market, retail prices also increased by Rs 2 per kg to Rs 39-40 per kg, as per the media reports. Traders said that prices may further go up in the coming days as millers are not releasing the stock in anticipation of better returns, as per the media reports. There is more than 60 per cent drop in arrivals to 5,000 bags of 100 kgs in the wholesale market today as against 13,000 bags yesterday, they added. Traders mentioned that prices are on the rise also because of increase in summer demand for the sweetener by ice-cream and soft drink makers.
