Pralhad Joshi reviews sugar stock situation amid rising prices
During the meeting, Joshi is learnt to have emphasised on the close monitoring of availability and timely measures to maintain adequate stocks of sugar and ensure a stable supply throughout the season.
Sugar prices have seen a spike of around 10 per cent since the past one month and may remain high for the next few weeks, as supplies are restricted with demand for the upcoming festival season expected to rise.
Rising prices are likely to further spurt retail inflation, which had breached the RBI's target for the first time in 17 months in June, and had forced the government to take further measures to curb prices after banning exports and imposing stock limits last month.
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