Kathmandu: Sugar mills have raised the factory prices of sugar by Rs 2 per kg stating that the government has revised the floor price of sugarcane for farmers.
According to the Nepal Sugar Producers Association, the factory price of sugar after the revision has reached to Rs 70 per kg excluding value-added tax (VAT).
Shashi Kant Agrawal, president of the association said, “The increase in the production cost is due to rise in the prices of raw materials. The step has been taken to relieve the sugar mills from the financial burden.”
According to the retailers, the hike in sugar price by the millers would lead to an increase in the prices of sugar by Rs 10 per kg.