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Sugar Prices Going Down In CapitalBy ugesh sarkar, Section News
SOARING sugar prices in the Capital started plunging on Friday, much to the relief of Delhiites.
Sugar is now being sold at Rs 39 per kg, as compared to Rs 47 per kg on January 15. The cheaper sugar is being sold at big retail stores such as Vishal Mega Mart and Reliance, among others. " I went to buy sugar on Saturday at a Reliance mart. To my surprise, the price had dipped from Rs 50 to Rs 40. This is a good step taken by the government," Preet Vihar resident Neelima Singh said. Small retail shops, however, are yet to get the low- priced sugar. " We are yet to get the supply of new sugar. We hope it will come in a day or two. Right now, we are selling sugar at Rs 50," said Mohan Aggrawal, a retail shopkeeper at Mayur Vihar. On Friday, Prime Minister Manmohan Singh had admitted in the Rajya Sabha the government's failure to control the spiralling sugar prices. Source: Mail Today By Mausam Sharma Sugar prices going down in Capital Click On "Full Story" For More...
" I do admit weakness," the PM said. " If there is a failure of economic policy, it is with regard to sugar... we have not been able to find a practical and pragmatic way to deal with the cyclical behaviour of sugarcane production," he added.
However, sugar prices have fallen by almost 20 per cent. Mill prices of sugar fell in two major sugar producing states, Uttar Pradesh and Maharashtra. According to the shopkeepers, it was for the first time that sugar prices soared in winter last year. " It happened because of hoarders who stock the commodity, forcing the prices to escalate," Aggrawal said. Earlier, agriculture minister Sharad Pawar had said the sugar prices would come down. Senior officials said the government was pegging on high sugarcane production, to be harvested in April. Large sugar consumers have been reportedly asked to reduce stocks.
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