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Sugar prices stay steady in Mumbai, govt restricts export to curb domestic prices

25 May 2022 1:31 pm
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Mumbai, 25 May (Commoditiescontrol) Sugar prices extended its steady trend for a third consecutive day on Wednesday. Meanwhile, the Centre has imposed restrictions on sugar exports up to 100 lakhs metric tonnes (LMT) from June 1, 2022, to maintain domestic availability and price stability during the sugar season 2021-22 (October-September).



As per the order issued by the Directorate General of Foreign Trade (DGFT) with effect from June 1, 2022, till October 31, 2022, or till further order, whichever is earlier, the export of the sugar will be allowed with specific permission of the Directorate of Sugar under Department of Food and Public Distribution.



Secretary, Department of Food & Public Distribution, Sudhanshu Pandey said that the decision came in the light of record exports of sugar.

As per the Mumbai Sugar Merchant Association, wholesale rates of sugar were mostly the same but S-30 grade sugar traded a little lower.



S-30 grade of sugar was offered at Rs 3402-3480 per quintal while M-30 traded at Rs 3500-3680 per quintal.



Naka delivery rates of S-30 grade of sugar were at Rs 3350-3395 per quintal while rates for M-30 were at Rs 3455-3495 per quintal.


       
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