In a notification released on January 31, the food ministry has allocated 22 lakh tonnes (LMT) monthly sugar quota for February 2024 to 566 sugar mills which is 1 LMT higher than the quantity allocated in February 2023 (21 LMT).
In the last month i.e. in January 2024 the allocated sugar quota for domestic sale was 23 LMT.
Check the allocation list state wise sugar quota
According to market experts, as the quota for the month of February has been set at 22 LMT, the domestic market will see an uptick of 10 to 20 Rs per quintal. In previous months, we have observed negative sentiments, which are likely to stabilize with an expected increase in price.