Maha MPs meet PM, oppose move to impose stock limits for sugar

Amid concern over rising prices of sugar, a delegation of MPs from Maharashtra today met Prime Minister Narendra Modi and opposed the move to impose stock limits for sugar.
The delegation said the move of imposing stock limits would lead to collapse of the market.
"The Prime Minister assured the delegation that the government would not lower import duty on sugar," Swabhimani Shetkari Sanghatna MP Raju Shetti, who was in the delegation led by Maharashtra BJP chief Raosaheb Danve, said.
To check hoarding and control prices, the Centre earlier today allowed the states to fix the stock holding limit on sugar. The Cabinet, chaired by Prime Minister Narendra Modi, has given its approval to bring sugar under the purview of stock holding limit, keeping in view the recent uptrend in prices.

Former Agriculture Minister Sharad Pawar had yesterday threatened that cane growers will come out on the streets to protest if the government takes steps to depress retail sugar prices.
Last week, Union Food Minister Ram Vilas Paswan had asked the state governments to impose stock holding limits on sugar.

Retail sugar prices have been rising since October due to estimates of lower production at 25.6 million tonnes for 2015-16 marketing year (October-September) as against 28.3 million tonnes a year ago.
The prices crossed Rs 40 per kg at the beginning of this month compared with Rs 30 per kg last October. At present, prices are ruling at Rs 45 per kg, according to the government data.

Sugar prices were depressed during 2014-15 marketing year on record production and huge carryover stock that led to sharp rise in cane arrears of about Rs 21,000 crore.
However, the prices have been inching up on expectation of lower output and the government's order to mandatorily export 3.2 million tonnes in the ongoing marketing year.
Mills have exported only 1.3 million tonnes of sugar so far and are likely to ship 7,00,000 tonnes more by September.
Sugar production fell 8 per cent to 24.3 million tonnes till April 15 of this year.