New Delhi: India will impose a limit on the amount of sugar that mills can hold at the end of September and October, the food minister said on Thursday, as the government tries to keep prices under check ahead of key festivals when demand rises.
India, the world’s biggest sugar consumer, had made a similar move in April as two straight droughts in 2014 and 2015 reduced output while demand stayed high.
“It has been decided to impose stock limit on sugar stock to be held by sugar mills at the end of September 2016 and October 2016,” Ram Vilas Paswan tweeted.
The limit at the end of September would be 37% of the total sugar that mills had in the same period a year ago, while for October it would be 24%. Reuters