For 1st time in a decade, India to import 10 lakh tonnes of sugar
The Indian government has authorized the import of 10 lakh tonnes of raw sugar for the first time in a decade to address declining domestic stocks and rising retail prices. Additionally, new inventory holding limits have been imposed on bulk consumers to curb speculative trading.
Why it matters
Government intervention in food supply chains is critical for managing inflation and ensuring food security during production shortfalls.
NEW DELHI: Govt Thursday allowed the import of 10 lakh tonnes of raw sugar, the first such move in a decade, as it stared at a possible decline of at least 20% in the opening stock of the sweetener.The move came soon after the food ministry ordered that no bulk consumer such as confectioners, soft drink manufacturers, food processing industries, sweetmeat sellers and other institutional buyers using more than 10 tonnes of sugar a month can hold inventories for more than 15 days. This means if an entity uses 12 tonnes a month, at any given point, it can hold a stock of six tonnes.
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