Sugar prices are on all time high in Uttar Pradesh this year. Following a shortfall in the acreage and low production, sugar prices have crossed the last four years barrier in the wholesale market.
The wholesale dealers too are not expecting any breather in the near future as the demand is set to go up in the forthcoming festive and wedding season. Due to continuous short supply, the prices of sugar in the retail market touched all time high of Rs 24-25 per kg last week. In the wholesale market of Kanpur the sugar prices were at Rs 22-23 per kg in the same period.
According to the spokesperson of the UP Udyor Vyapaar Pratinidhi Mandal, CK Chabra, the shortfall in the cane crop area is showing its impact in the market now. He confirmed that for the last three months sugar prices were on a higher side in the wholesale market. He expected that in the festive season of Holi the prices would further go up. He said that for the last eight months traders in UP have been demanding to release additional quota of sugar fearing spurt in the prices.