Wholesale sugar price in Pune falls further by ₹6/kg

Retailers, however, said the decline in wholesale prices would take a few days to reflect in retail markets.

Pune: The wholesale price of sugar in Pune has fallen by another ₹6 per kg in the past 48 hours, amid increased selling by mills as the month-end approaches.

Retailers, however, said the decline in wholesale prices would take a few days to reflect in retail markets. (REUTERS)

Pune Sugar Merchants Association president Ishwar Nahar said the wholesale price stood at ₹55 per kg on Tuesday, down from ₹61 per kg two days earlier.

“With the month ending, sugar mills have to sell their remaining quota. Many mills have lowered their bidding prices to sell the commodity, which has brought down wholesale prices. Prices have also declined in other parts of the state,” Nahar said.

Several sugar mills are now quoting ₹45-46 per kg, at least ₹5-6 lower than earlier.

The wholesale price in Pune had touched ₹68 per kg over a week ago. It began declining after the Centre announced plans to import 10 lakh tonnes of sugar.

Retailers, however, said the decline in wholesale prices would take a few days to reflect in retail markets.

“Sugar is still being sold at ₹70 per kg in Pune as retailers are yet to exhaust stocks purchased at ₹61 per kg. Once they buy fresh stock, retail prices will come down,” retailers said.