Government mulls sugar export to China under quota
Source: PTI The government is considering a proposal to allow sugar mills to export to China under the preferential quota system as part of a strategy to help them liquidate surplus stocks. India exports 10,000 tonnes of white sugar to the EU and 8,100 tonnes to the US through the preferential quota system, under which exports are permitted at low tariffs. After the quota is reached, a higher tariff is applied on additional exports. Food Minister Ram Vilas Paswan had said last week that the government is considering barter trade of sugar against import of farm items like pulses from some countries. “Besides barter trade, we are exploring sugar export under the quota system to China. We are also looking at ...
Government intervenes to unclog payment of arrears to cane farmers
Source: PIB, Government of India To help the industry clear its cane dues arrears, the Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi today approved the proposal to provide soft loans to the extent of Rs. 6000 crore to the sugar industry. CCEA has provided a one year moratorium on this loan, and will bear the interest subvention cost to the extent of Rs. 600 crore for the said period. To ensure that farmers are paid their dues expeditiously, the Government has mandated that banks will obtain from the sugar mill, the list of farmers with bank account details to the extent cane dues are to be paid, so that the same are directly paid into ...
