India Rules Out Stockpiling Sugar to Drain Surplus, Boost Prices

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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