India sugar prices rise from ₹48.18 to ₹55.70 per kilo
India
Sugar just got pricier in India, with rates climbing from ₹48.18 to about ₹55.70 per kilo in just one month.
The government says this is due to a combo of lower production, festive season demand, bad weather hitting crops, and some speculation and hoarding.
They also made it clear: the price rise isn't because sugar is being used for ethanol.
Government assures stocks sufficient until October
Officials say this sugar squeeze isn't just an India thing. It's happening globally.
Still, the government promises there's enough sugar stock to get everyone through until the new crushing season starts in October and they're working to keep prices stable.