In an announcement on March 26, the food ministry allocated a monthly sugar quota of 25 lakh metric tonnes (LMT) for April 2024, which is 3 LMT higher than the quantity allocated in April 2023 (22 LMT).
In March 2024, the allocated sugar quota for domestic sale was 23.5 LMT.
According to market experts, as the Lok Sabha poll is around the corner, therefore a higher quota of 3 LMT was given compared to April 2023. This is likely to put pressure on the domestic market, and prices are expected to fall by 30 to 40 Rs per quintal.
Today, S-grade sugar in Maharashtra ranges between Rs 3,400 and Rs 3,430 per quintal, whereas M-grade sugar in Uttar Pradesh is trading between Rs 3,770 and Rs 3,800.
