Wholesale sugar prices have dipped: Sharad Pawar

New Delhi, Jan 18 (ANI): Union Agriculture Minister Sharad Pawar today said that wholesale sugar prices have fallen 10-12 percent in the past two to three days and the effect would be felt in the retail prices in some time.

Talking to reporters here, Pawar said: "There is a drop in wholesale but not in retail yet. Our past experience of many years... whenever there is drop in wholesale, it takes about 10-15 days in retail so we hope that the process will start soon."

He said wholesale sugar prices had fallen to 37-38 rupees per kilogramme from 42 rupees.

Pawar also said cold weather in northern India was beneficial for the wheat and rapeseed crops, and an instruction for the selling of wheat and rice in open market has been sounded to the officials.

"We have given instructions for the sale of wheat and rice in the open markets of the FCI (Food Corporation of India) branches. Its effect will be felt in some time and I hope the state governments will help us in this," Pawar added.

The government last week had announced a slew of measures such as duty-free sugar imports and enhanced allocation of rice and wheat to check prices. Indian inflation jumped to a one-year high of 7.3 percent in December, driven by high food prices. (ANI)