Ten days after the Centre announced a slew of measures to contain soaring sugar prices, instead of the retail price coming down it has surged by up to Rs 10 a kg across the country, barring in the Delhi and Bhubaneshwar markets, show the latest data from the Consumer Affairs Ministry.
However, there has been a moderate downward revision in the wholesale prices in leading markets like Delhi and Mumbai since January 13 when the Government announced a number of steps to rein in sugar prices after retail prices sniffed at Rs 50 per kg.
Significantly, this further spike in the retain prices comes after Food and Agriculture Minister Sharad Pawar had on January 13 announced many measures to contain soaring sugar prices and had said that the impact of these measures would be visible within at least 10-15 days on on the retail front.
"It (decline in prices) would take at least 10-15 days to reflect in retail markets," Pawar had said announcing these measures to arrest the prices.
Faced with a tight demand-supply situation, the Government had announced increased domestic supply by allowing processing of imported raw sugar anywhere in the country. It also had extended the time to avail of the benefit of zero- duty import of white sugar till the end of December. This was to expire in March.
Following these measures, there was slight impact on wholesale prices though, as prices declined by up to Rs 3.50 a kg to Rs 41/kg in Delhi, an less than a rupee in Mumbai to Rs 40/kg, according to trade data.