New Delhi: In an effort to monitor sugar stocks more closely and to keep retail prices under control, Government has issued orders to mandatory disclose stock position of sugar for traders/wholesaler, retailer, big chain retailer, processors of sugar on the portal (https://esugar.nic.in) of Department of Food and Public Distribution on every Monday.
This mandatory weekly stock disclosure will help Government maintain a balanced and fair sugar market, and empower regulatory authorities to closely monitor stock levels and take prompt action against any potential market manipulation.
This fully digital initiative will provide real-time data on sugar stocks and help the Government to make further policy decisions, as and when need arises, to mitigate the impact of speculations of rising sugar prices on consumers and the industry.
In the PIB release today, the Government said that with 83 LMT at the end of August 2023 and expected beginning of crushing in Oct 2023, the country has sufficient stocks for domestic consumption with absolutely no shortage for festivals.
