ANNOUNCEMENT 08 Feb 2018
A stockholding limit was imposed on sugar producers to control the rise in sugar prices.
NUMBER OF INTERVENTIONS
Official order of the Ministry of Consumer Affairs, Food and Public Distribution
On 8 February 2018, the Ministry of Consumer Affairs, Food and Public Distribution imposed a stock holding limit on sugar producers to check the fall in prices of sugar.
The notification imposes stock limits for February and March 2018 and requires the sugar producer to hold at least 83% (86%) of the closing stock of sugar as on the last date of January 2018 (February 2018) + sugar produced in February 2018 (March 2018) - sugar exported in the month of February 2018 (March 2018).
In order to control the excess sugar supply, the government has also increased the import duty on sugar (see related State Act).