Sugar prices spike to ₹70/kg as festive season demand strains supplies

Sugar prices have climbed to ₹70 per kilogram in Kolkata retail markets, marking a ₹20 increase over the past month as consumers stock up for the forthcoming festive season. Traders reported the particularly steep 10 per cent spike occurred within the last four to five days, with associated products including jaggery and traditional sweets experiencing similar price movements.

The wholesale market remains under pressure, with prices already touching ₹65 per kg, according to Sushil Poddar, president of the Confederation of West Bengal Trade Association. Industry representatives said the absence of effective controls on sugar mills has contributed to the shortage, with retailers struggling to source supplies at sustainable rates.

In response to the crisis, the central government approved imports of one million tonnes of raw sugar on Thursday, a measure not taken for a decade. However, traders cautioned that the impact of this decision has yet to reach retail consumers. Authorities also imposed a 15-day consumption cap on bulk customers consuming more than 10 tonnes monthly, an effort to stabilise market availability across the supply chain.