• In an announcement on March 26, the food ministry allocated a monthly sugar quota of 25 lakh metric tonnes (LMT) for April 2024, which is 3 LMT higher than the quantity allocated in April 2023 (22 LMT).
• In March 2024, the allocated sugar quota for domestic sale was 23.5 LMT.
• According to market experts, as the Lok Sabha poll is around the corner, therefore a higher quota of 3 LMT was given compared to April 2023.
• This is likely to put pressure on the domestic market, and prices are expected to fall by 30 to 40 Rs per quintal.

Source:chinimandi