Sugar prices cool 18% after hitting record high, ex-mill rates fall to Rs 55 per kg

Following a surge in sugar prices to unprecedented levels last week, the market is now experiencing a decline. Government interventions aimed at curbing hoarding and speculation have contributed to this stabilization. Ex-mill sugar rates have seen a substantial decrease, and additional cuts are anticipated. Although predictions for domestic sugar output are lower, current stock levels remain adequate. Consumers are still eager for reductions in both wholesale and retail pricing. Following a surge in sugar prices to unprecedented levels last week, the market is now experiencing a decline. Government interventions aimed at curbing hoarding and speculation have contributed to this stabilization. Ex-mill sugar rates have seen a substantial decrease, and additional cuts are anticipated. Although predictions for domestic sugar output are lower, current stock levels remain adequate. Consumers are still eager for reductions in both wholesale and retail pricing.