Sugar, onion prices stabilize after government intervention
What's the story
The prices of essential commodities, sugar and onion, have stabilized over the past week. This comes after aggressive government measures such as imposing stock limits and mandating the sale of allocated sugar stocks within a specific period. The sale of buffer stock onions at ₹35/kg has also contributed to this stabilization. Market price data shows that ex-mill sugar prices have been contained in the ₹44-49/kg range from their previous high of ₹65/kg.
Price shift
Onion prices see minor reversal
Along with sugar, onion wholesale prices have also seen a minor reversal by ₹4-5/kg.
However, traders are still expecting further price increases due to a delay in the Kharif crop by nearly a month.
Dilip Patil, Regional Director (West) at the Indian Federation of Green Energy, said that sugar prices have stabilized since the second week of September due to government policy measures.