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Govt likely to pay cane growers Rs 55 a tonne to help sugar mills: Sources

India in March scrapped a 20 per cent export tax and made it compulsory for mills to export at least 2 million tonnes of sugar

Reuters  |  New Delhi 

India is likely to provide financial support to cane farmers for produce sold to sugar mills, two government sources said, in a rare move to subsidise the industry which is reeling under a glut and struggling to export because of low global prices. India, the world's biggest sugar consumer, last month scrapped a 20 per cent export tax and made it compulsory for mills to export at least 2 million tonnes of sugar. But mills said they would incur a loss of at least $150 a tonne because global prices were near a 2-1/2-year low. Prime Minister Narendra Modi's administration is ...

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First Published: Tue, April 10 2018. 09:54 IST
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