Diabytes
India sugar News
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The annual domestic requirement of India, which is the world's second largest producer, is only 26 million tonnes.
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The world`s second-biggest sugar producer is likely to export mere 700,000 to 800,000 tonnes of the sweetener in the current season ending September despite producing nearly 28 million tonnes, the Indian Sugar Mills Association said in a statement.
The Cabinet Committee on Economic Affairs (CCEA) is likely to take up Thursday a proposal to extend export subsidy to 1.4 million tonnes of raw sugar in the ongoing 2014-15 marketing year.
The minister also said mills owed about 43 billion rupees ($692 million) to cane growers for the last season ended Sept. 30.
The government could raise import duty on sugar to protect mills if they clear farmers` cane arrears, Food Minister Ram Vilas Paswan said Thursday.
Sugar marketing year runs from October to September.
Sugar marketing year runs from October to September.
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