Sanjeev Chopra, Union Food Secretary, said essential food prices will stay the same during festivals. Sugar exports will be decided after the agriculture ministry estimates production. The government uses several tools to stabilize prices..
Essential food prices: Food Secretary Sanjeev Chopra said today (October 19) that essential food prices will remain stable during the festival season. He added that sugar exports during the 2023-24 marketing year (October-September) will be decided after the agriculture ministry releases sugarcane production estimates.
The secretary informed the media about wheat, rice, sugar, and edible oil supplies and prices.
“Festival prices should stay steady. Festival food prices are not expected to rise. Price stability is expected in the coming months “Chopra told media.
Price stability:
The secretary said the government recently made price-stabilizing decisions. The government has recently used all its trade policy and stock limit tools. Chopra noted that these tools have been used wisely to check prices and maintain stability. Chopra reported 57 lakh tonnes of sugar opening stock on October 1, the start of the marketing year.
The government again restricted sugar exports beyond October 31, 2023, and until further orders on Wednesday (October 18) to increase domestic supply during the festive season.
The restrictions were in place until Tuesday, October 31.
“Export restrictions on raw, white, refined, and organic sugar are extended beyond October 31, 2023 until further order. The DGFT announced that other conditions will remain unchanged.
Conclusion
Union Food Secretary Sanjeev Chopra says essential food prices will stay the same during festivals. The agriculture ministry’s sugarcane production estimates will determine sugar exports for the 2023-24 marketing year. To stabilize prices, Chopra said the government has used trade policy and stock limit norms wisely. Sugar opening stock was 57 lakh tonnes on October 1, the new marketing year. To boost domestic sugar supply during the holidays, the government has extended sugar export restrictions beyond October 31, 2023, and until further orders. The restrictions lasted until October 31. General Foreign Trade Directorate (DGFT) said other conditions will remain unchanged.
