Government to remove curbs on sugar exports

May 04 ,2012 16:53 PM
Government to remove curbs on sugar exports

India is the biggest consumer and second biggest producer of sugar and controls the industry through procurement prices set by both centre and the state governments, to keep its prices stable.

The government has decided to remove curbs on sugar exports, allowing producers to benefit from higher prices in overseas markets. Commerce minister Anand Sharma has said that notification to this effect will be issued in due course. Indian Sugar Mills Associations have said the country is likely to produce 26 million tonnes of sugar, while consumption is expected to be 22 million tonnes.

The government also removed the minimum export price on onions for the next two months. The government has decided to form a new panel headed by C Rangarajan, chairman of Prime minister's economic advisory council to consider a decision to allow supply of an additional 15 million tonne of food grains through the Public Distribution System.

The government, decided to allow exports of cotton. It is reported that, some experts feel that sugar prices should be freed from state control. Presently, states have the power to regulate price of sugar. India is the biggest consumer and second biggest producer of sugar and controls the industry through procurement prices set by both centre and the state governments, to keep its prices stable.

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