 "From the 2018-19 sugarcane season starting October, the Centre not only increased the base recovery rate from 9.5 to 10 per cent, but also raised the premium extra yield in sugar from Rs 2.68 per quintal to Rs 2.75 a quintal")
India's sugar exports have come to a standstill after a sharp fall in prices in the last two weeks.
Raw sugar prices in the benchmark Chicago Mercantile Exchange (CME) for near-month delivery declined by 4 per cent on Monday, trading at cents 12.80 /lb. The decline translates into Rs 1,000 a tonne of fall in Indian denominations which makes a big difference in exporters’ realisation. Following reports of exports becoming unviable, refined sugar (M30) has declined by 2.5 per cent to trade on Monday at Rs 33,100 a tonne in Vashi wholesale market in Maharashtra.
The government is offering a
