Noida, Aug 27 (APAC Media): Sugar prices have risen sharply ahead of the festive season, prompting quick-commerce platforms and large retailers to restrict the quantity consumers can purchase amid concerns over supply and rising demand.
Zepto, Blinkit and Swiggy Instamart have introduced purchase limits on select sugar products, according to a review by India Today Digital. The restrictions vary across platforms, products and locations. On Swiggy Instamart, some 1-kg sugar packs are currently capped at two per order, while Blinkit and Zepto have also flagged limited availability of certain products.
Offline retailers have taken similar measures. Large chains, including DMart and Reliance, have reportedly capped sugar purchases at around 2-3 kg per customer at some stores.
The restrictions come as retail sugar prices have climbed. The all-India average retail price rose to Rs 65.05 per kg on August 26, from Rs 63.97 a day earlier, according to government data.
The government has attributed the recent price increase to several factors, including lower-than-expected domestic production, higher festive demand, weather-related damage to sugarcane, tighter global supplies and speculation and hoarding. Sugar production in the current season is estimated at 306 lakh tonnes, below the earlier estimate of 343 lakh tonnes.
“The present increase in sugar prices is due to a combination of factors, including lower-than-expected domestic production, increased demand ahead of the festive season, weather-related damage to the sugarcane crop, tightening global sugar supplies and speculation and hoarding,” the Ministry of Consumer Affairs said in a statement.
To improve availability, the government has permitted duty-free imports of 10 lakh tonnes of raw sugar. It has also imposed stock limits on dealers and announced tighter restrictions on stocks held by bulk consumers from September 1.
The government has said adequate stocks are available to meet domestic demand until the new crushing season begins in October.
With festive demand expected to increase in the coming weeks, retailers are seeking to manage inventories while ensuring wider consumer access to the commodity.
–ENDS–
Disclaimer:Â This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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