Sugar price hike: MCCI voices food product manufacturing industry’s concerns
The Mysuru Chamber of Commerce and Industry (MCCI) is calling for government intervention to stabilize rising sugar prices, which are impacting food manufacturers and the hotel industry. They suggest providing subsidized sugar to small businesses to prevent price hikes for consumers.
Why it matters
Rising raw material costs for small and medium enterprises can lead to broader inflationary pressures on food products.
The rise in price of sugar over the last few days has sparked concern among the food-product manufacturing and the hotel industry with Mysuru Chamber of Commerce and Industry (MCCI) urging the Centre and State governments to immediately intervene and take steps to provide sugar at a subsidised price.
MCCI president K.B. Lingaraju, in a statement here, pointed out that the sharp rise in the price of sugar was severely affecting the food-product manufacturing as well as hotel industry.
The increase in sugar prices is affecting not only the domestic consumers, but also the production costs of bakeries, sweet manufacturers, biscuit manufacturers, beverage companies, food-processing units, hotels, restaurants, and other small and medium scale industries, he said.
The industries are already under pressure due to rising electricity costs, labour expenses, transportation charges, packaging costs, and prices of various raw materials.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in