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Cabinet approves Rs 6,268 crore export subsidy for 6 mn tonnes of sugar

This will benefit millions of farmers in Uttar Pradesh, Maharashtra and Karnataka as well as other states

sugar, sugar production, sugar output

A lump sum export subsidy of Rs 10,448 per tonne will be given to sugar mills in the 2019-20 marketing year

Sanjeeb MukherjeeAgencies New Delhi
To absorb the surplus sugar, the Cabinet on Wednesday approved an export subsidy of Rs 10.44 per kg. This would enable mills to ship around six million tonnes (mt) of the sweetener in the coming season that starts from October.
The subsidy, which is expected to cost the exchequer almost Rs 6,268 crore, will give an additional cash flow to the tune of around Rs 18,000 crore to mills and help them clear cane dues. According to the government, the subsidy will be credited to bank accounts of farmers against cane price dues and are compliant with WTO norms.

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First Published: Aug 28 2019 | 7:19 PM IST

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