Millers to produce Raw Sugar due to low price in international market
With international Sugar prices ruling at a decade’s low due to surplus supplies, Sugar millers from Maharashtra have asked the state government to make it mandatory for mills to produce Raw Sugar during the first two months of the crushing season beginning October 1.
The Union cabinet, which was expected to take a call on export policy last week, is now likely to discuss the proposal in the current week. The decision expected to be taken by the Indian government is also being closed tracked by invest.
The industry was, however, not able to fulfill the earlier mandatory target of exporting 20 lakh tonnes of Sugar during 2017-18, on the grounds that it was not financially viable. It has now demanded an increase in incentives given to Sugarcane growers.
A section of the trade has also demanded doing away with the monthly Sugar release mechanism to boost exports.
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