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Sugar prices drop 18% to Rs 55/kg after record high amid govt crackdown

Sugar prices have fallen 18% from record highs, with ex-mill rates declining to Rs 55 per kilogram. The government stepped in with measures targeting hoarding and speculation, which helped stabilize the market. Further price cuts are expected in the near term, according to reports. Despite forecasts of lower domestic sugar production this season, current inventory levels are considered sufficient. Consumers, however, continue to push for more meaningful reductions at both wholesale and retail levels.