Sugar inflation broke 12 years record in international market

Published on: 28-Sep-2023

Not only the people of India are disturbed by inflation, but there is an outcry in the whole world with inflation. The problem of inflation is that sugar in the international market has reached a 12 -year highest level. It has become 48 percent expensive in a year.

Due to the rising price of sugar, the budget of the kitchens of people all over the world has been shaken. The price of sugar has reached a 12 -year high due to huge gaps in supply and demand. On September 19, the price of sugar rose to $ 27.5. In such a situation, it is being said that so far this year, the price of sugar has increased by about 30 percent. The special thing is that America is also not saved from the rising price of sugar. Even today, sugar is still trading around $ 27.

Inflation has increased all over the world

Business experts say that due to affecting production of sugar in India, inflation has increased not only in India, but all over the world. The price of sugar in almost all countries has reached the seventh sky. However, in view of the festive season in India, the central government has geared up to curb the rising prices of sugar. The government can release 1.3 million tonnes of sugar quota in the open market.

Also read: sugar products became expensive in many powerful countries due to ban on sugar exports by India

The government is constantly monitoring sugar

Hemant Shah, co-founder of AgriMandi, says that the government has been monitoring sugar continuously for the last two months. The government is also taking action from time to time. It is the effort of the government that the supply of sugar in the market should not be affected during the festival like Durga Puja and Diwali, so that prices remain under control.

Also read: Now government can ban sugar exports soon

Sugar has become 48 percent expensive in a year

According to the information, due to drought and low rainfall, there has been a decline in sugar production in India as well as Thailand. Due to this, the prices of sugar are increasing. At the same time, Brazil has a great yield of sugar. Despite this, the price of sugar in the international market is increasing. Sugar has become 0.22 percent expensive in the last one week in the international market. Also, in the last 1 month, there has been a 13 percent increase in the price of sugar. At the same time, it has become 48 percent expensive in 1 year.