Free sale quota of 24 lakh tonnes of sugar declared for the month of July

27-Jun-2024 10:34 AM

New Delhi. The Central Government has declared a monthly sale quota of 24 lakh tonnes of sugar for mills across the country for July 2024.

It was announced on 26 June but this quota will be effective from 1 July. For July 2023 also, a free sale quota of 24 lakh tonnes of sugar was fixed but for June 2024, a quota of 25.50 lakh tonnes was issued.

Trade analysts say that due to the July quota being 1.50 lakh tonnes less than June, the price of sugar may rise by Rs 15-20 per quintal.

However, there is no major festival in July and the effect of severe heat will also reduce due to the fall in temperature due to monsoon rains.

Due to which the demand for sugar in the manufacture of cold drinks and ice cream etc. may weaken somewhat, but still the quota of 24 lakh tonnes will not put pressure on the domestic market price of sugar.

Sugar prices have been fluctuating for the last few days. Since it is the last week of June, millers are having to sell the remaining part of their quota in a hurry,

while domestic and industrial demand is seen to be normal. The low quota in the first week of July may have a partial psychological effect on the sugar market. Domestic demand and consumption of sugar is increasing due to population growth, increase in per capita income and changing food habits of people. The sugar production season has ended.