Wholesale sugar prices drop 10-12 percent: Pawar
January 18th, 2010 - 6:31 pm ICT by IANS
New Delhi, Jan 18 (IANS) Wholesale sugar prices have fallen 10-12 percent in the past two days and the effect would be felt in retail prices within a fortnight, said Agriculture Minister Sharad Pawar here Monday.
After the meeting of the cabinet committee on prices Jan 13, chaired by Manmohan Singh, Pawar had said the soaring prices of essential commodities would start coming down in 8-10 days.
Prime Minister Manmohan Singh has called a meeting of the chief ministers here Jan 27 to discuss the issue.
The wholesale sugar prices have fallen by about 10-12 percent — from Rs.4,280 per quintal to Rs.3,980 per quintal — in the past two days, Pawar said.
Retail prices are expected to come down soon as well, he told reporters.
“Whenever there is a drop in wholesale, it takes about 10-15 days for retail price drop so we hope that the process will start soon,” Pawar said.
After the cabinet committee meeting, Pawar had announced a major relaxation of norms for raw sugar import.
The minister also said the government has taken steps to sell wheat and rice in the open markets.
“Its effect will be felt in some time,” he added, while expressing hope that the states would help the central government to bring down prices of essential commodities.
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Tags: agriculture minister, cabinet committee, central government, chief ministers, committee meeting, commodities, fortnight, manmohan, manmohan singh, norms, open markets, prime minister manmohan, prime minister manmohan singh, quintal, raw sugar, retail prices, sharad pawar, sugar import, sugar prices, wholesale sugar
