00:00And well, sugar prices are surging with a 15% jump in just one month,
00:04putting fresh pressure on household budgets ahead of the festive season.
00:08But is ethanol really driving the spike?
00:11The government says no.
00:12So what's behind the sugar shock?
00:14And will prices cool before the festive rush?
00:32A little more sugar in your tea can cause a little more worry lines now
00:37and may add a little more to the grocery list bill.
00:42Sugar prices are getting dearer and this time the jump is so hard to ignore.
00:46In just one month, the price has gone up by over 15%.
00:50From 48.18 rupees a kilo on July 20th to 55.70 rupees on August 20th.
00:57But what is driving the sugar spike?
01:00And is ethanol to blame?
01:02The government says no.
01:04Don't blame ethanol.
01:06Sugar diversion for ethanol has actually fallen from 12% to 9%.
01:11And today, nearly three-fourths of ethanol is produced from grains.
01:16So if ethanol isn't pushing up sugar prices, what is?
01:21There isn't one single reason.
01:23Lower sugar production has tightened supplies.
01:26Festive demand is beginning to build.
01:29Global sugar supplies are also tighter.
01:31And the government is keeping a watch on hoarding and speculation.
01:35Weather damage to sugarcane has added another layer of pressure.
01:38So consumers could be caught in a squeeze.
01:41Less supply and more demand leading to higher prices.
01:46But the government says it is moving to ease that pressure.
01:5010 lakh metric tons of raw sugar will be imported duty-free.
01:54Crushing is set to begin from October 15th, with output targeted at more than 10 lakh tons.
01:59Because as the festive season gets closer, the question for every household is simple.
02:04Will the price of sugar cool down before the festive bills heat up?
02:09Bureau Report, India Today.
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