India Rules Out Stockpiling Sugar to Drain Surplus, Boost PricesPrabhudatta Mishra and Pratik Parija
Govt. isn’t considering sugar mills’ demand to stockpile sugar as of now, according to Food Minister Ram Vilas Paswan.
- “If we create a buffer stock, prices will rise and there will be criticism,” Paswan says in interview in New Delhi on Thursday. “We are not interested in creating a buffer stock. Farmers should get their payments on time and it is the responsibility of state govts. to recover dues from mills.”
- Related stories:
- NOTE: Indian Sugar Mills Association wants govt. to buy 10% of output to help reduce glut
- NOTE: Sugar Production in India May Surge to 8-yr High
- NOTE: $3 Billion of Unpaid Bills Fail to Deter India Sugar Farmers
- NOTE: Prices in India lowest in 6 yrs, according to ISMA; inventories seen at 10.3m mt by Sept. 30
- Govt. doesn’t want to control sugar industry: Paswan
- Need to maintain balance between consumer and farmer prices
- NOTE: Production will climb to 28m mt this yr, highest since 2006-07, while local consumption seen at 24.8m mt: ISMA
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