Nov 9, 2020
The government is reconsidering extension of sugar export subsidies as India has got good opportunity to export sugar between November 2020 and April 2021.
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The government is reconsidering extension of sugar export subsidies as India has got good opportunity to export sugar between November 2020 and April 2021.
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Sugar exported to refineries within SEZ to be eligible for export benefits: Govt
Sugar exported to refineries within SEZ to be eligible for export benefits: Govt
Pune: The central government has clarified that supply of sugar by mills to refineries in Special Economic Zones (SEZ) will be considered to be export for the purpose of certain benefits available to other mills.
The benefits are under for Maximum Admissible Export Quantity(MAEQ) scheme for the current sugar season 2019-20, which was notified to facilitate exports and improve the liquidity of…
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Generous export subsidy for sugar may only solve half the problem The cabinet last week approved a huge sugar export subsidy of Rs.6286 crore for sugar mills to export sugar. Cost of producing sugar in India is substantially higher than in countries like Brazil and Australia. With global sugar prices falling, the only way for…
Sugar Subsidy
Generous export subsidy for sugar may only solve half the problem
The cabinet last week approved a huge sugar export subsidy of Rs.6286 crore for sugar mills to export sugar. Cost of producing sugar in India is substantially higher than in countries like Brazil and Australia. With global sugar prices falling, the only way for Indian sugar mills to compete in the world market is through government subsidies. While this is good for optics, will this really address the concerns of sugar sector?
Not so sweet sugar problem
For a long time, sugar has been a very sensitive topic; politically and socially. That is the reason governments have gone out of their way to keep the sugar farmers and the sugar mills in good humor. With a global glut of supply, the prices of sugar are falling globally. But India has a larger problem of high cost of production. Apart from structural issues, sugar costs and output also gets impacted by weather related factors. When sugar prices are below cost, it results in burgeoning sugarcane dues to farmers. The government cannot afford an unhappy farmer lobby and cane farmers are very powerful in states like Uttar Pradesh and Maharashtra. The only option is to give subsidies and this year the government has announced export subsidies for 6 million tons at the rate off Rs.10,448/ton. The centre’s bet is that if the subsidy helps boost exports then the funds can be realized faster and the cane farmer dues can also be paid out on time by the sugar mills. READ MORE- Best Online Stock Trading, Financial Services & Mutual Funds Investment Solution provider India - Trustline