‘Poor bear the impact’: Sugar prices soar in India, souring festive season
India is one of the world's largest sugar consumers, but usually produces much more.
Jai Krishan, a 43-year-old labourer from Bihar in northern India, has saved 15,000 rupees ($160) to travel home from Indian-administered Kashmir, where he works, to celebrate Diwali with his family in November.
Each year, he buys boxes of sweets — laddu, barfi and kaju katli — to take home as gifts for his family and friends. He spends about $35 just on sweets for Diwali, he says, as he prepares afternoon tea for himself and his roommates in their rented accommodation in the Hawal area of Srinagar, Indian-administered Kashmir’s largest city.
“For someone from a lower-middle-class family, this is a lot of money. But Diwali is one of the most important festivals for Hindus and you cannot skip celebrating it,” he says.
India introduced ethanol blending to reduce its dependence on expensive crude oil imports, strengthen energy security and increase farmers’ incomes by creating a market for surplus crops. The initiative is also intended to reduce vehicle emissions and support the country’s broader decarbonisation goals.