MUMBAI: The retail price of sugar has risen by a shocking eight rupees per kg this week in parts of Mumbai.Sugar sold for Rs 50 per kilo around Aug 10 but has now soared to a record high of Rs 58. It is expected to rise further to Rs 61, say APMC traders.They say the sharp rise is driven by lower availability for domestic consumption, higher demand ahead of the festival season and diversion towards newer adaptive uses like ethanol fuel blending.
