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Wholesale sugar prices have dipped: Pawar

Gargi Parsai

NEW DELHI: Union Agriculture Minister Sharad Pawar said on Monday that the wholesale prices of sugar had fallen by 10 to 12 per cent in the last two to three days following the measures announced by the government last week. The impact would be felt in the retail markets in some time.

Speaking to journalists on the sidelines of a conference, Mr. Pawar said: “There is a drop in wholesale sugar but not in retail so far. Our experience is that whenever there is a drop in the wholesale it takes about 10 to 15 days for the effect to be felt in retail. We hope the process will start soon.”

According to him the wholesale price of sugar had dropped from Rs. 42 to about Rs. 37 to Rs. 38 per kg . Sugar mills and traders were looking at importing sugar in a big way in the past week, he added.

Asked about the prices of wheat and rice, Mr. Pawar said: “Let’s wait for the impact of measures announced recently. We have given instructions to the Food Corporation of India to sell wheat and rice in the open market from today. I hope the States will co-operate.”

Several steps

The Minister pointed out that the cold weather conditions in north India were beneficial to the rabi wheat crop.

The government had last week announced several measures to augment the availability of sugar, wheat, rice and pulses and contain their prices.

Duty free sugar imports and offloading of two to three million tonnes of wheat and rice in the open market were some of the steps taken to check rising prices.

To seek the cooperation of the State governments to curb the prices of essential commodities and check hoarding and speculation, Prime Minister Manmohan Singh has convened a meeting of Chief Ministers on January 27.

Mr. Pawar said the Centre was ready to take corrective measures to remove deficiencies in the measures being taken to contain the galloping food prices.

It would place before the States some more steps to tackle the price issue.

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