Sugar prices swell to Rs185 per kg

A direction of the Economic Coordination Committee (ECC) on Monday to the relevant agencies to check the hoarding and smuggling of sugar has failed to bring any respite for the consumers as the rates of the sweetener have swelled further. Traders said that the wholesale rate had ranged between Rs164 per kg, up by Rs4 per kg from Monday, thus putting extra pressure on the retail prices which increased to Rs180 per kg from Rs170. Retail marts and online stores were cleverer than retail shop owners quoting sugar rates up to Rs185 per kg on Tuesday from Rs170-175. Rising wholesale rates have been providing extra opportunities to various online mart and retail shop operators to make a windfall on the already piled-up stocks. Amid the lack of any writ in the 16 months of the PDM government, consumers believe that the caretaker set-up is more disappointing following the Rs20 per litre rise in petroleum products, record rupee depreciation against the dollar and persistent rise in various commodity prices.