Due to the rising price of sugar, the kitchen budget of people all over the world has deteriorated. Due to huge difference between supply and demand, the price of sugar has reached its highest level in 12 years. On September 19, the price of sugar increased to $27.5. In such a situation, it is being said that so far this year, there has been an increase of about 30 percent in the price of sugar. The special thing is that even America is not untouched by the rising price of sugar. Here sugar is still trading around $27.
Business experts say that due to the impact of sugar production in India, inflation has increased not only in India but in the entire world. The price of sugar has reached sky high in almost all the countries. However, in view of the festive season, the central government in India has geared up to impose a tax on the rising price of sugar. The government can release the quota of 13 lakh tonnes of sugar in the open market.
Government is continuously monitoring sugar
At the same time, Hemant Shah, co-founder of Agrimandi, says that the government has been continuously monitoring sugar for the last two months. The government is also taking action from time to time. The government is trying to ensure that the supply of sugar in the market is not affected during festivals like Durga Puja and Diwali, so that prices remain controlled.
It has become expensive by 48 percent
According to the information, due to drought and less rainfall, there has been a decline in the production of sugar in India as well as in Thailand. Due to this the prices of sugar are increasing. Whereas, there has been a bumper production of sugar in Brazil. Despite this, the price of sugar is increasing in the international market. Within the last one week, sugar has become costlier by 0.22 percent in the international market. At the same time, an increase of 13 percent has been recorded in the price of sugar in the last one month. Whereas, it has become expensive by 48 percent in one year.
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