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HomeTrendsCentre reassures consumers of ample sugar stock to meet demand

Centre reassures consumers of ample sugar stock to meet demand

Centre reassures consumers of ample sugar stock to meet demand

The Ministry of Consumer Affairs, Food, and Public Distribution in New Delhi has taken proactive measures to address concerns regarding the availability of sugar in the nation. In response to public apprehensions, the Ministry has released a statement, ensuring the people of India that there is an ample supply of sugar.

The assurance comes as the government acknowledges the importance of a stable and sufficient sugar stock to meet the country’s consumption demands. By releasing this statement, the Ministry aims to allay any fears and uncertainties surrounding sugar availability and ensure that consumers have access to an adequate sugar supply.

The statement from the Ministry reflects the government’s commitment to food security and consumer welfare. Such transparent communication from the authorities is crucial in fostering public confidence and trust in the administration’s efforts to manage essential commodities’ availability and prices.

As India continues to navigate various economic and logistical challenges, the government’s assurance on sugar availability demonstrates its vigilance and proactive approach in monitoring and managing essential food supplies. This step is part of the broader efforts to ensure the nation’s overall food security and maintain stable prices for essential commodities, benefiting the general population.

The Ministry’s statement comes as a reassurance to the people of India, highlighting the government’s dedication to securing the nation’s food needs and maintaining a stable supply chain. As the situation evolves, the Ministry will likely continue to closely monitor the sugar supply to uphold its commitment to public welfare and wellbeing.Centre reassures consumers of ample sugar stock to meet demand | Mint

As of July 2023, India’s sugar stockpile has reached an impressive volume of 108 lakh metric tonnes (LMT), signaling a robust supply that can adequately meet the country’s domestic demand for the remaining months of the ongoing sugar season 2022-23. The Ministry of Consumer Affairs, Food, and Public Distribution has emphasized this substantial sugar stock, providing reassurance to the nation about its capacity to fulfill sugar requirements.

The Ministry further assured that the current sugar stock is more than sufficient to maintain an optimum reserve of approximately 62 LMT at the conclusion of the season. This ensures that even after meeting domestic demand, there will still be a significant surplus for strategic reserves.

This surplus sugar stock is a result of strategic planning and effective management by the government. It reflects the Ministry’s proactive approach in monitoring and controlling the sugar supply chain to maintain a steady balance between consumption needs and reserve requirements.

The availability of such a substantial sugar stockpile is essential for maintaining food security in the country and ensuring stable prices for consumers. By ensuring a healthy sugar reserve, the government can mitigate potential fluctuations in the sugar market and safeguard the interests of both producers and consumers.

As the sugar season progresses, the Ministry will continue to monitor the situation closely to uphold its commitment to consumer welfare and food security. The ample sugar supply offers a positive outlook for the nation and contributes to India’s efforts in managing essential commodities effectively.India export ban: World rice price index jumps to near 12-year high in  July: FAO | Mint

During the relevant period, India is projected to have a sugar production of approximately 330 lakh metric tonnes (LMT) after allocating about 43 LMT for ethanol production. Despite this diversion, the Ministry of Consumer Affairs, Food, and Public Distribution assures that there will be ample sugar supply for domestic consumers throughout the year.

The Ministry’s commitment to maintaining reasonable sugar prices is evident from their efforts to stabilize retail prices within the country. Even with a surge in international sugar prices reaching a decade-high in April-May 2023, the government of India has effectively controlled domestic sugar prices, keeping them stable. This has resulted in only a nominal inflation of around 3% in domestic sugar prices, aligning with the Fair & Remunerative Price (FRP) of sugarcane.

The strategic diversion of a portion of the sugar production for ethanol manufacturing demonstrates the government’s focus on promoting sustainable practices and reducing the dependence on fossil fuels through ethanol blending. Despite this diversion, the Ministry’s assurance of sufficient sugar availability ensures that consumers will not face any shortages or price fluctuations.

Maintaining stable sugar prices is essential for consumer welfare and food security, as sugar is a critical commodity in India and is widely used in various food products and beverages. By effectively managing the sugar supply chain and controlling prices, the government aims to protect the interests of both consumers and sugar producers while contributing to the nation’s overall economic stability.

International sugar prices continue to remain significantly higher, nearly 50%, compared to their Indian counterparts. Despite this disparity, the average retail price of sugar in India stands at ₹43 per kg and is expected to remain stable within a reasonable range. The country has maintained a consistent trend of less than 2% annual inflation in sugar prices over the past decade, showcasing the effective impact of government policy interventions in price stabilization.

Addressing the interests of sugarcane farmers has been a priority for the government. Fair and remunerative prices for their produce, along with timely payments by sugar mills, have been ensured. An impressive record of 99.9% of cane dues for sugar seasons up to 2021-22 has been cleared by sugar mills, supporting the financial well-being of sugarcane farmers. For the ongoing sugar season 2022-23, around ₹1.05 lakh crores have already been paid, accounting for approximately 93% of the total cane dues that have been cleared.

The combination of stable sugar prices, effective policy measures, and timely payments to sugarcane farmers reflects the government’s commitment to maintaining a balanced sugar market and ensuring fair compensation for producers. These efforts contribute to a sustainable and resilient sugar industry while safeguarding the interests of both consumers and farmers.Saccharum officinarum - Wikipedia

As the government continues its vigilant approach in managing sugar prices and supporting the agricultural sector, the nation can anticipate continued stability and growth in the sugar market, fostering a positive environment for all stakeholders involved.

 

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