The country has sufficient stock of sugar available and there are no plans to allow further imports of the sweetener at zero duty, Food Minister Ram Vilas Paswan said today.
In order to ensure smooth sugar supply and stable prices in the new season starting October 2017, the government has asked mills to commence crushing operations early.
Prices are stable now and are expected to remain so in the coming festival season, he added.
Last month, import duty on sugar was hiked to 50 per cent to restrict cheap imports.
The domestic availability of sugar is sufficient to meet the demand. We have already allowed duty-free import of 5 lakh tonnes. No plans to further allow duty-free imports, Paswan told reporters.
The country has sugar supply of about 27.9 million tonnes (MT) in the current 2016-17 season (October-September). This includes an old stock of 7 MT and current year’s production of 20.4 MT and import of 5 lakh tonnes.
This would be sufficient to meet the domestic demand till fresh sugar from the new crop is manufactured from October onwards, he said.
Also, mills have been asked to start their crushing operations bit early so that new sugar is available in the market and prices remain under control, he added.
Paswan further said that about 4.2 MT of the current year’s sugar would be available to meet the local demand during the October-November period of this year when mills would be undertaking their crushing operations.
The monthly sugar demand is 2-2.5 MT.
Domestic production in the current 2016-17 season ending next month is estimated at 20.4 MT, lower than 25.1 MT last year.
Original Source: thehindubusinessline.com
The Brazilian companies are expected to reach approx $80 mn in businesses in the food and agriculture sector over the next one year. Nine out of 20 companies which are visiting...
Under the Central sector scheme of lab upgrades, 29 state food safety laboratories in 25 states and Union Territories (UTs) have been taken up so far for upgrades, while FSSAI ...
The Centre's rice procurement has surpassed the target at 38 million tonnes so far in the ongoing 2017-18 marketing year that will end this month, a senior food ministry of...
Farmer Producer Companies (FPCs) and co-operative institutes in the state of Maharashtra will get a subsidy of ?30.000 (€365) per container if they export fruits and vege...