Page 11 - Sugar Mills
Conditions for sugar mills to avail subsidy eased
The Cabinet Committee on Economic Affairs on Wednesday relaxed conditions for sugar mills to avail production subsidy, after taking into account low sugar output because of drought.The conditions were also relaxed because the subsidy was withdrawn abruptly as sugar prices in retail markets had risen beyond a reasonable limit. As the production subsidy scheme was withdrawn before schedule, mills that had met at least 50 per cent of their export target and mills with distillation capacity that have supplied ethanol in line with the revised schedule, would be eligible for the subsidy, an official statement said. Earlier, this subsidy was given to mills that exported their full quota and those who entered into ethanol delivery contracts with OMCs or oil marketing companies.The subsidy was initially calculated based on the estimated cane crushing of 255 million tonnes in 2015-16. But, the crushing has come down due to drought."However, production subsidy on actual cane crushing would be pro
 "Conditions for sugar mills to avail subsidy eased")
Sugar mills move for early closure of crushing, lower exports still an issue
Export target of 4 million tonnes so far is still far away
