Friday, 17 September, 2021
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India to revoke compulsory sugar export order

India to revoke compulsory sugar export order

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NEW DELHI: India will soon scrap an order that requires sugar mills to export excess supply, two government officials said on Mon­day, after back-to-back droughts look set to turn the country into a net importer next season and open the door to rival suppliers.
Late last year the government asked mills to export as much as 3.2 million tonnes to deal with what was then a glut that dragged prices down and put mills under financial pressure, reports the Media.
To support the scheme and relieve that pressure, the government agreed to pay farmers 45 rupees for every tonne of sugar cane they produced, representing about two per cent of the costs incurred by mills.