MUMBAI, 26 July (Commoditiescontrol): In an announcement on July 26, the Food Ministry allocated a monthly sugar quota of 22 lakh metric tonnes (LMT) for August 2024. This is a reduction compared to the 25.5 LMT allocated in August 2023, which included an additional 2 LMT. The new quota will be applicable from August 1, 2024.
Additionally, the validity of the sugar sales under the monthly quota for July 2024 has been extended to August 15, 2024. In July 2024, the allocated sugar quota for domestic sale was 24 LMT.
According to market experts, the announced sugar quota for August appears to be balanced, and there will be no pressure on the domestic market. Due to the festivals in August, there will be strong demand, and the market may witness a price increase of Rs. 30 to 50 per quintal. Considering the flood situation, the government has also extended the sugar sales quota for July.
This strategic allocation and extension by the government aim to ensure stable sugar availability during the festive season and address potential supply disruptions caused by the floods.
(By Commoditiescontrol Bureau; +91 98201 30172)
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