Union Minister Nitin Gadkari has defended the government's stance on the rising sugar prices. He clearly stated that the government does not set sugar prices. Therefore, blaming the government for the price increase is not correct.
Nitin Gadkari defends the government on sugar prices.
Sugar prices have been rising sharply over the past few months, leading everyone from the public to the opposition to blame the government for this. However, sugar prices have now seen a slight decline. Following this, Union Minister Nitin Gadkari has defended the government, stating clearly that the government does not set sugar prices.
Recently, Union Transport Minister Nitin Gadkari attended an event organized by the National Federation of Cooperative Sugar Factories Limited (NFCSF). State ministers and industry representatives present there demanded an increase in the minimum support price (MSP) for sugar. Gadkari responded with this statement.
What did Gadkari say?
Responding to this demand, Gadkari said, "We now live in a global economy, and in such an economy, no government can fix the prices of agricultural products, even if it wants to. Sugar prices are set in Brazil, corn prices are set by the United States, and palm oil prices are set by Malaysia."
He added, "That's why those in the opposition naturally demand such prices for farmers, but when they're in power, they can't say anything. It's easy to say, but implementing them is practically difficult."
When do sugar prices fall?
Gadkari further explained the fall in sugar prices, saying, "In Brazil, a piece of land is approximately 2,000 to 3,000 acres. They have a lot of land and use machines. The cost of producing sugar there is 23 rupees per kilogram, while our cost is at least 33-34 rupees per kilogram. If there is excess sugar stock in Brazil, prices in India automatically fall."
Making money from sugar isn't enough.
Gadkari also said that simply making sugar isn't enough for farmers. To increase its revenue, the sugar industry will need to focus on other sugarcane products. These include sugarcane waste, biomass products, and organic fertilizers. These can generate higher incomes for farmers and the sugar industry.
