 "The sugar industry presents a disturbing picture of the government controlling cane prices while the revenues that crushing factories will earn are left to market forces")
As the crushing of cane reaches its seasonal peak in India and around the world, the Indian sugar industry presents the disturbing picture of the government controlling cane prices while the revenues that crushing factories will earn are left to market forces. In times of good to bumper production when ex-factory prices of the sweetener will fall short of production cost, factories find it difficult to settle cane bills of farmers on time.
Not very long ago, cane dues of sugar factories climbed to an astronomical amount of over Rs 220 billion, leading to many distressed farmers committing suicide and great
