Sugar sold for Rs 4000 per quintal in market
Chhatrapati Sambhajinagar: Sugarcane production has decreased in the country this year leading to an increase in price of sugar to Rs 4120 per quintal. However, the Central government banned the production of ethanol and also banned its export, which had an immediate impact on the local market. Sugar was sold at Rs 4,000 per quintal on Saturday after the price fell by Rs 100. Sugar became cheaper by Rs 1 per kg.
Due to the shortage of sugarcane, many sugar factories and traders predicted that the sugar mills will be closed in January and there will be an increase of Rs 300 to Rs 400 per quintal. Hence there was a large stock of sugar made in the market. However, not only the sugar factories but also the traders were hit hard by the Central government's ban on ethanol production. The price of sugar increased to Rs 3950 to Rs 4120 per quintal. Sugar factories and distilleries were producing ethanol from sugarcane juice. The Central government banned this product. Due to this, the price of sugar decreased to Rs 3,850 to Rs 4,000 per quintal on Saturday. While in retail sale, the price of sugar is Rs 40 to Rs 41 per kg less by Rs 1.
Sugar production will increase
Every year the sugar factories continue work till April. But this year due to a shortage of sugarcane, it was expected that they would be closed by the end of January. However, since the Central government has banned ethanol production, sugar factories will now focus on sugar production that can be up to 172.23 lakh quintals in the state, said Rajesh Kasliwal, wholesaler.