India cuts sugar stock holding period for dealers to 15 days to curb hoarding ahead of festivals
- India’s government will limit sugar dealers to 1,000 quintals and 15 days of storage from October 15 through November 30 to curb hoarding before festivals.
- Kolkata, its extended metropolitan areas, and Assam may hold up to 2,000 quintals because of regional supply and transportation needs.
- The government reported that ex-mill sugar prices fell about 28%, while average retail prices fell 15% from their August peak.
12 Articles
12 Articles
Govt tightens sugar stock rules to curb hoarding ahead of festivals
To ensure adequate sugar supply during the festive season, the government has halved stockholding limits for dealers to 1,000 quintals and shortened the holding period to 15 days, effective from 15 October through 30 November.
Govt Tightens Sugar Stock Limits Ahead of Festive Season as Mill Prices Fall 28%
Get latest articles and stories on Business at LatestLY. The government has tightened stock-holding rules for sugar dealers ahead of the festive season, limiting inventories to 1,000 quintals and restricting the holding period to 15 days, as it seeks to curb hoarding and ensure that a sharp fall in mill-level sugar prices reaches consumers. Business News | Govt Tightens Sugar Stock Limits Ahead of Festive Season as Mill Prices Fall 28%.
The central government has taken strict measures to curb sugar hoarding during the festive season. To ensure adequate sugar is available to consumers at reasonable prices, the government has implemented new stockpiling regulations. Under the new regulations, sugar dealers have been limited to a 15-day stockpiling period and a maximum limit of 1,000 quintals.
The Economic Times
Times of IndiaIndia cuts sugar stock holding period for dealers to 15 days to curb hoarding ahead of festivals
Starting from October 15, new regulations will limit sugar stock for dealers to 1,000 quintals nationwide. Dealers will only be allowed to hold stocks for a maximum of 15 days. Kolkata and Assam will have a higher limit of 2,000 quintals due to regional needs. The Government expects retail sugar prices to decline further as ex-mill prices stabilize.
The central government has tightened restrictions to prevent sugar hoarding and price hikes ahead of the festive season. The time limit for traders to keep sugar stock has been reduced to 15 days and the quantity to 1000 quintals. The government aims to pass on the benefits of lower prices to consumers through these measures.
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