Mumbai, Jul 25: The retail prices of sugar in retail will hike by Rs 3 per kg followed by the sudden increase in the ex-factory prices.
The Bombay Sugar Merchants Association's official said, "during the last few moths, whole sale sugar prices were ruling at prices ranges from Rs 2,350-Rs 2,600 per 100 kg, hence the consumers were able to get sugar at around Rs 30 per kg."
He also added, "now with the sudden increase in ex-factory prices of sugar in the wholesale market will go up to Rs 2,900 to Rs 3,000 and retail prices of sugar will go up by about Rs 3 per kg."
In the case of sugar an item of daily consumption for the average consumer the decision is ethically wrong, because it adversely affects every consumer, claimed the official.
The association had also appealed the government to intervene in the matter and allow open market forces to function normally.