Team Blitz India
NEW DELHI: The Government of India has been successfully in maintaining stable retail prices of sugar in the country despite the spiraling prices in the international market, according to a release. The domestic prices of sugar has a nominal inflation of about 3%, which is commensurating with the hike in Fair & Remunerative Price (FRP) of sugarcane.
International prices of sugar are almost 50% higher than those in India. The average retail price of sugar in the country is about ₹ 43 per kg and is likely to remain in range bound only. In fact, it can be seen from the chart below that there has been less than 2% annual inflation in the country in sugar prices in last 10 years. Domestic prices have been kept stable with little increase as a result of pragmatic government policy interventions.
Timely Government interventions have brought sugar sector out of crisis. Strong fundamentals of sugar sector and sufficient production of sugarcane and sugar in the country has ensured the prices remain under control, the release added.