NEW DELHI (Reuters) - India's sugar output in the 2015/16 season will be enough to cater to local demand, Food Minister Ram Vilas Paswan said on Thursday, as the first back-to-back drought in nearly three decades hit cane plantation and raised concerns over production.
The south Asian country is the world's second biggest producer of the sweetener and has been exporting sugar to bring down inventory and pay cane farmers' dues.
Paswan said cane arrears have dropped to 27 billion rupees ($396.6 million) from 210 billion rupees in April 2015.
The country's wheat and rice stocks on Jan. 1 stood at 23.8 million tonnes and 12.7 million tonnes respectively, he said.
($1 = 68.0800 Indian rupees)
(Reporting by Mayank Bhardwaj; Editing by Sunil Nair)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app