Sugar prices cool 18% after hitting record high, ex-mill rates fall to Rs 55 per kg

Sugar prices are cooling down after hitting a record Rs 67 per kg last week, with ex-mill rates now falling 18% to Rs 55 per kg.Food secretary Sanjeev Chopra attributed the drop to the government's recent decision of allowing sugar imports and action against hoarding and speculation. Chopra said the earlier price rise was not because of a shortage of sugar, as the country has sufficient stock, rather it was due to mills "jacking up" prices."Ex-mill price of sugar, which were jacked up by mills, have started cooling down. They have declined to Rs 55 per kg and will further drop in the coming days," Chopra told PTI.Sugar production in the 2025-26 marketing year (October-September) is estimated at 306 lakh tonnes, lower than the earlier estimate of 343 lakh tonnes.