News International Sugar Journal

India – Millers welcome partial de-control of the sugar industry [Registered]

India’s food minister KV Thomas announced on 3rd April that mills will now have the freedom to sell in the open market and are no longer obligated from supplying the sweetener at subsidised rates for ration shop — a decision that will help the industry save about Rs 30 billion (U$547 million) annually. The government maintained that the decision will not lead to any rise in retail prices of sugar. However, it would double the government’s subsidy burden to Rs 53 billion (U$ 966 million) annually from about Rs 26 billion (U$474 million). Sugar stocks of big firms rose following…

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