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HomeIndustry & UpdatesTo curb hoarding, disclosure of sugar stocks is must

To curb hoarding, disclosure of sugar stocks is must

The government on Thursday issued orders for mandatory disclosure of stock position of sugar by traders, wholesalers, retailers and processors of sugar on the portal of the Department of Food and Public Distribution on every Monday.

This mandatory weekly stock disclosure for these entities is a proactive step in Government of India’s efforts to maintain a balanced and fair sugar market, an official statement said.

“The government has been successfully maintaining stable retail price of sugar in the country. As a proactive measure to combat hoarding and curb unscrupulous speculation in the sugar market, it has been decided to mandate weekly stock disclosure,” the government said.

“This proactive measure empowers regulatory authorities to closely monitor stock levels and take prompt action against any potential market manipulation.

This fully digital initiative will facilitate smooth sugar market with deterrence to commodity hoarders from any speculative transactions. Besides, it will also provide real-time data on sugar stocks and help the government to make further policy decisions, as and when the need arises, to mitigate the impact of rumours of rising sugar prices on consumers and the industry,” the government said.

The above news was originally posted on news.google.com

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