In an announcement on February 27, the food ministry has allocated 23.5 lakh metric tonnes (LMT) monthly sugar quota for March 2024 which is 1.5 LMT higher than the quantity allocated in March 2023 (22 LMT).
In February 2024, the allocated sugar quota for domestic sale was 22 LMT.
The government has also announced that there will be no extension for the month of February, 2024 sugar quota.
According to market experts, the market will remain stable, with prices expected to range from 20 to 30 Rs per quintal (plus or minus). Prices are anticipated to be stable, as last year in March 2023, the season was in full swing, whereas in the current season, crushing operations are not at full capacity.
