Release 6 lakh tonnes of buffer sugar stock in market: Gidwani

Pune, Aug 25 (UNI) Maharashtra Pradesh Congress Coordination Committee President Kanhaiyalal Gidwani today demanded that six lakh tonnes of buffer sugar stocks be released in the market immediately to contain the soaring prices and meet the demand during the ongoing festival season.

Talking to reporters, Mr Gidwani said the central government has sent notices to 252 sugar factories countrywide, of which 89 are in the state, to release buffer stock in the market. However, of the 11 lakh tonnes that was meant to be put in the market only five lakh tonnes was actually released resulting in soaring sugar prices.

He alleged that the sugar traders and hoarders had hiked the prices upto Rs 400 per quintal by creating artificial shortage.

Giving further details, Mr Gidwani said that sugar stocks should have been released in a phased manner. For the period July, August, September, the declared quota was 12, 9, 9, lakh tonnes respectively. This was not implemented. For the coming festive season of October, November, December around 20, 20, 15 lakh tonnes repectively, totalling 55 lakh tonnes need to be relased, he said.

Mr Gidwani said that he had written to the Prime Minister and Union Agriculture Minister Sharad Pawar about the manipulations in the futures trading that has affected and raised sugar prices drastically.

UNI DWN SR SKB2011