In the coming days, sugar may become cheaper. The central government has made it import tax-free. The government has taken this decision keeping in mind the continuously rising prices of sugar. This exemption will remain till 31st October. Currently, sugar is being sold in retail at around ₹55 per kilogram.
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Preparation to meet demand in festive season
According to the government’s order, the import of this consignment of sugar will have to be completed from today till 31st October 2026.
- Increase in Demand: India is the world’s largest consumer of sugar. During October, the country celebrates major festivals like Diwali and Durga Puja, during which sugar consumption is at its highest due to heavy demand for sweets, cakes, and delicacies.
- Relief During Festivals: Just before the festive season, such a large quantity of sugar entering the market without tax will strengthen the supply chain and provide relief from high prices to everyone from confectioners to the general public.
Global Market: Prices may rise in London-New York
Commodity market experts and market analysts believe that this decision by the Indian government will also have an impact at the international level. India is the world’s largest sugar consumer, so as soon as India procures 10 lakh tonnes of raw sugar from the international market, demand for it in the global market will suddenly increase.
This will have a direct impact on the benchmark prices of sugar on the commodity exchanges in London and New York, and sugar prices there may strengthen in the coming days.
We are continuously updating this news
