Ludhiana: Sugar prices soar ahead of festivities

The retail price of sugar has touched ₹65 per kg, while in the wholesale market, prices have climbed to around ₹6,200-6,500 per quintal, compared with nearly ₹4,500 per quintal earlier

The festive season may bring sweetness to households, but a sharp rise in sugar prices is threatening to leave a bitter taste in consumers’ pockets. With Raksha Bandhan and Ganesh Chaturthi approaching, sugar prices have jumped by at least ₹17 per kg in the wholesale market over the past week, raising concerns that the increase could soon translate into costlier sweets.

prices have jumped by at least ₹17/kg in wholesale market. (HT FILE)

The retail price of sugar has touched ₹65 per kg, while in the wholesale market, prices have climbed to around ₹6,200-6,500 per quintal, compared with nearly ₹4,500 per quintal earlier. Wholesalers said the sudden spike has come at a particularly sensitive time, as sweet shops and other food businesses have begun stocking up on raw materials ahead of the festive rush. With demand for sweets expected to rise sharply in the coming days, traders fear that sugar prices could remain under pressure.

‘Festival shopping already becoming expensive’

For households, the increase has come at a time when families are already preparing larger budgets for festival shopping. Kamaljit Kaur, a housewife said the rise in sugar prices would directly affect household expenses, particularly during festivals. “We are already trying to manage household expenses within a limited budget, and such sudden increases make it even more difficult,” she said.

The impact is also being felt by small tea vendors, who depend heavily on sugar for their daily business.

A local tea vendor, Som Prakash said even a small increase in the price of sugar affects his margins when multiplied over hundreds of cups sold every day. “We cannot keep increasing the price of tea every time the cost of sugar goes up. Customers will complain if we raise the price, but at the same time our expenses are increasing. During the festive season, when other items also become expensive, it becomes difficult for small vendors like us to manage,” he said. Sweet shop owners are also keeping a close watch on the situation, as sugar is one of the key ingredients in several popular sweets.

Rohit Kharbanda, owner of Lyallpur Sweets, said sweet manufacturers were already facing rising costs of several raw materials.

“The prices of sweets will increase if the cost of raw materials continues to rise,” he said. A sugar mill owner, requesting anonymity, attributed the price rise to what he termed alleged mismanagement at the Centre. He claimed that the government’s emphasis on ethanol production had affected sugar production and contributed to the rise in prices.

He warned that the situation could become more difficult if the upward trend continued in the coming days.