CCEA extends incentive scheme for raw sugar marketing

The Cabinet Committee on Economic Affairs (CCEA) Thursday approved the continuation of the incentive scheme for marketing and promotion services of raw sugar production during current sugar season 2014-15 (October-September) for a quantity of 14 lakh MT, an official statement said.

"As the quantity is fixed, settlement of claims will be prioritized on the basis of the date of export/deemed export as certified by concerned customs and excise authorities," the statement said.

The CCEA meet, chaired by Prime Minister Narendra Modi, further approved fixed uniform rate of Rs.4,000 per MT for 2014-15 sugar season.

"Other conditions will remain the same, as were last year except that in case of mills having alcohol production capacities, the incentive would be available if they offer to supply ethanol to OMCs (oil marketing companies) under the EBP (ethanol blending programme) upto 25 percent of their annual production level of alcohol," it added.

This will help sugar mills to clear the cane price dues of the farmers, it said.