Hindi NewsBusinessSugar Traders Will Have To Give Stock Information Every Week, To Government
New Delhi8 minutes ago
The government has said that all the people associated with sugar business will have to compulsorily submit information about their stock on Monday every week. To keep sugar prices under control in the retail market and deal with hoarding, the government has issued this order through a notification on Thursday.
It has been said in the notification that sugar traders/wholesalers, retailers, big chain retailers and processors should get the latest information about the sugar stock deposited with them on the portal of ‘Food and Public Distribution’ (https://esugar.nic.in). But it will have to be given compulsorily.
Real time data of sugar will be available
This system is completely digital. This will stop all types of hoarding and betting transactions. This will help in running the sugar market smoothly. Due to real-time data being available on the portal, the government will have accurate information about the stock. This will reduce rumors related to price rise. It will also help in taking decisions if needed.
The government has asked sugar mills to follow the rules of monthly quota and necessary laws. It has also been said that strict legal action will be taken against those who do not follow the rules.
Government said- sufficient stock of sugar
The government has said that despite the record increase in international sugar prices, its retail prices in the country are stable. At present there is no shortage of sugar in the domestic stock for the current needs and for the coming festival season.
The sugar stock will improve significantly after the production of 83 lakh metric tonnes in August 2023 and crushing in October 2023. Apart from this, the government has also released the first installment of domestic sales quota. Sugar mills can start selling it from now itself. The government has said that the quota for this will be further increased.
Government may ban export of sugar from October
The government may ban the export of sugar from the crop season starting from October. Three people associated with the government told Reuters that sugarcane production has declined due to lack of rain. Therefore, the government can take this decision to control sugar prices in the country and save enough sugarcane for ethanol production.
This decision may increase prices in the global market. Earlier in 2016, the government had imposed 20% tax to reduce sugar exports.
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