Commodity News

Gur Price Down in Muzaffarnagar on GST Row

Amid confusion over GST, Muzaffarnagar gur market, a key trading centre in Uttar Pradesh, witnessed a sluggish demand on Wednesday.

Though, GST council has declared zero taxes on Jaggery (Gur) along with food grains but market is confused over the process of taxation in GST system and business activities are thin in gur, according to Muzaffarnagar- based gur trader. Gur production and trade will attract no taxes in GST system, but transport service will be taxable, similarly, a lot of intricacies are there which needed to be clarified, he added.

However, traders expect improvement in demand in coming days with the progress of monsoon. The consumption usually increases in monsoon season, when farmers need rich food for working in the field and gur is a great source of energy so they usually increase consumption of gur.

The production of gur was higher than last year in Uttar Pradesh because of better yielding sugarcane crop in the state. As per the trade sources, stock of gur in the cold storage of Muzaffarnagar is at 11.90 lakh bags (40kg each), more than 1.95 lakh bags as compared to last year.

Current stock of gur in the market is around 4000-5000 quintals.

Hence, consumption demand for gur may increase in case of higher prices of sugar, said a market analyst.

Chaku gur traded at Rs. 1,260-70/40kg at Muzaffarnagar market today. Laddoo was offered at Rs. 1300-50/40kg. Rascut Dhaiya was priced at Rs.1, 150-60/40kg. Jaggery powder traded at Rs. 1370-80/40kg.

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