The step has been taken by the government to combat hoarding and curb speculation amid a slight uptick in domestic prices
After wheat, tur and masoor, the Centre mandated sugar stock disclosure by wholesalers, retailers, big chain retailers and processors on a weekly basis to combat hoarding and curb speculation amid a slight uptick in domestic prices.
An official statement said, ” As a proactive measure to combat hoarding and curb unscrupulous speculation in the sugar market the government has issued orders to mandatorily disclose the stock position of sugar for traders, wholesalers, retailers, big chain retailers, and processors of the sugar on the portal (https://esugar.nic.in) of the department of food and public distribution on every Monday.”
According to the government, this mandatory weekly stock disclosure is another proactive step in its efforts to maintain a balanced and fair sugar market.
Uppal Shah, Co-Founder & CEO, AgriMandi said, “The measure of stock disclosure will bring transparency about the sugar stock situation in the country. The current season is at the very end, and the new sugar season will begin within a fortnight. There are a lot of noises going about the impact of deficit monsoon. It is important that there should be no ambiguity about the exact position of sugar stocks in the country.”