Govt cuts dealers' sugar stock holding to 2,000 qtls to curb retail prices

The Centre on Tuesday further tightened the stock holding limit for sugar dealers, cutting it from 4,000 quintals to 2,000 quintals, effective from September 15 to November 30, as it looked to rein in high retail prices of the sweetener. The stock holding limit of 4,000 quintals, first imposed on August 1, will, however, remain unchanged for Kolkata and its extended metropolitan areas, "considering the specific market requirements of the region", the food ministry said in a statement. The move is aimed at ensuring adequate availability of sugar in the domestic market and checking hoarding and speculative trading, the ministry added. Under the amended norms, a dealer cannot hold any stock for more than 30 days from the date of receipt, and cannot hold sugar, at any time, anywhere in the country, in excess of 2,000 quintals. Explaining the exemption for Kolkata, the ministry said the region sources sugar from Uttar Pradesh and Maharashtra and supplies it onward to the eastern and ...