News International Sugar Journal

Indian government to give an export subsidy of U$56/tonne raw sugar [Registered]

Indian government is expected to announce a subsidy of Rs 3,500 (U$ 56) per tonne on export of four million tonnes of raw sugar costing the exchequer Rs 1,400 crore (U$224.4 million) reports Business Standard. The main purpose of this is to boost overseas sale and bail out the cash-starved industry. The CCEA (Cabinet Committee on Economic Affairs) had twice deferred the decision on fixing the export subsidy. The Agriculture Minister Sharad Pawar was in favour of higher subsidy of Rs 3,500 per tonne as against Rs 2,000 per tonne proposed by the Food Ministry. Amid differences among the ministries,…

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