Sugar price keeps rising in local market at the retail level. This is in spite of the permission given by the government for import of sugar from abroad to stabilise supply and prices. Retailers in the market fear further rise in sugar price because of manipulations by 'high stakeholders', ie, sugar mill-owners.
However, many traders with lots of cash money have reportedly cornered sugar suppliers in the market and kept big stocks stored up to sell at higher price, which they expect in the next few days.
Retailers say the government could issue them sugar directly for sale to general public through utility stores at government-controlled prices and this would ease the market and bring down prices of sugar in retail market.
As a result of higher sugar price, prices of 'gur' and 'desi sugar' has also gone up in the retail market. However, retailers were complaining that supplies of 'gur' are not in keeping with the demand.
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