Amid sugar price rise, GB Nagar steps up checks on hoarding

With sugar prices rising across the country ahead of the festive season, the Gautam Budh Nagar administration has formed teams to check hoarding and profiteering and ensure adequate availability of the commodity in the district, officials said on Saturday

With sugar prices rising across the country ahead of the festive season, the Gautam Budh Nagar administration has formed teams to check hoarding and profiteering and ensure adequate availability of the commodity in the district, officials said on Saturday.

Amid sugar price rise, GB Nagar steps up checks on hoarding

Officials said the administration had been directed to ensure compliance with the Centre and Uttar Pradesh government’s stock limits for sugar dealers and to raise consumer awareness about adequate availability.

“Despite adequate stocks of sugar, there have been concerns over a rise in prices. Teams have been constituted across the district to prevent illegal hoarding and profiteering and ensure that adequate stocks remain available to the public,” additional district magistrate (finance and revenue) Ajit Kumar Singh said.

Retail sugar prices rose from ₹48.18 per kg on July 20 to ₹55.70 per kg on August 20.

The Centre has also allowed duty-free imports of one million tonnes of raw sugar and tightened stockholding restrictions for bulk consumers. Under the stock limit applicable to dealers from August 1 to November 30, a dealer cannot store sugar for more than 30 days from the date of receipt and cannot hold more than 4,000 quintals (400 tonnes) at any time or at any location. The 30-day period includes the date the stock is received.

“Strict compliance with the prescribed stock limits will be ensured in Gautam Budh Nagar. The teams have been directed to conduct regular inspections and take action as per rules wherever irregularities are found,” Singh said.

The Centre on Friday attributed the recent price rise to lower-than-expected sugar production, higher festive demand, weather-related crop damage, tightening global supplies, speculation and hoarding, while rejecting claims that diversion of sugar for ethanol production was responsible.