Sugar demand may go up ahead of Ganeshotsav

Sugar demand may go up ahead of Ganeshotsav

NASHIK: The beginning of Shravan month is considered to be the start of festive season. Consumers are likely to feel the pinch of rising food prices in the upcoming festive season, as erratic rainfall in growing areas and thin stocks coupled with high demand could push up prices further. Higher food prices during festivals may also create fresh problems for the government, which has been struggling over the past several months to contain inflation.

Now as the Covid restrictions have been eased, consumer movement in markets is seen significantly. The demand for sugar is expected to rise from sweet marts, hotels, caterers, marriage halls which will now operate till 10pm. “Festivals are there and in September it will boost demand especially for sugar. We may see further rise in its prices ahead of Ganesh festival,” said LK Bedmutha,a semi wholesaler at Ravivar Karanja.

With the beginning of holy Shravan month which has religious significance and underlined importance of fasting, majority of the people have turned from meat to sattvik veg food items and hence use of sugar products is gaining momentum. In the last eight days demand for sugar in the wholesale market is going up. The sugar prices have recorded a per quintal rise between Rs 150 to Rs 200.

The prices have gradually increased to Rs 3600/quintal. Earlier the prices of sugar were stable. While in the retail market sugar is being sold between Rs 37 and Rs 40, which is a rise of about Rs two in the last eight to ten days. Whilesallers predicted gradual increase in demand for sugar in the next couple of months. Particularly, demand will be seen rising in the upcomimg 10-day Ganeshotsav.

October will ring in the Durga festival and also Diwali falls in the first week of November, the biggest festival for Hindus. “Every year during festivals sugar demand goes up. Demand will remain robust,” said a sugar merchant. Patchy rainfall in the district since the beginning of monsoon season and heavy rainfall in few areas delayed sowing and affected growth of some crops. which may lift prices ahead of the festive season to disrupt household budgets.

"In the last eight days demand for sugar in the wholesale market is going up. The sugar prices have recorded a per quintal rise between Rs 150 to Rs 200. The prices have gradually increased to Rs 3600/ quintal. Earlier the prices of sugar were stable." - A semi wholesaler, RK

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