Sugar is 25% costlier than last year. Here is what the government says
- Sugar now costs ₹54.06 a kg on average. That is 25 percent more than last year, and 20 percent more than just a month ago.
- The central government says four things caused it. Bad weather damaged the crop, people are buying more before the festivals, world prices went up, & some producers are holding back stock.
- India had also sold 20 lakh tonnes abroad earlier, expecting a big harvest that never came.
- To bring prices down, the government is allowing 10 lakh tonnes to be imported without tax, & has limited how much sugar big buyers can store.
Source: financialexpress.com
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