Government mandates weekly sugar stock disclosure to prevent hoarding

ANI
22 Sep 2023, 04:27 GMT+10

New Delhi [India], September 21 (ANI): The Government of India has taken proactive measures to ensure the stable retail price of sugar in the country by issuing orders that mandate weekly stock disclosures of sugar by Traders/Wholesalers, Retailers, Big Chain Retailers, and Sugar Processors.

This initiative aims to combat hoarding and curb speculative practices in the sugar market, read the Ministry of Consumer Affairs, Food and Public Distribution press release.

The weekly disclosure of sugar stock positions by these entities will be required on the Department of Food and Public Distribution's portal (https://esugar.nic.in) every Monday.

This move underscores the government's commitment to maintaining a balanced and equitable sugar market, preventing potential hoarding, and ensuring that sugar remains affordable for consumers, read the press release.

By mandating stock disclosures, regulatory authorities will have real-time data to closely monitor stock levels and promptly address any signs of market manipulation, read the release.

This digital initiative not only acts as a deterrent to hoarding but also provides valuable information for making informed policy decisions in response to market conditions and rumours affecting sugar prices, it said. (ANI)

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