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  Metros   Mumbai  20 Mar 2018  Sugar factories want export duty rollback

Sugar factories want export duty rollback

THE ASIAN AGE. | SHRUTI GANAPATYE
Published : Mar 20, 2018, 6:15 am IST
Updated : Mar 20, 2018, 6:15 am IST

The federation has suggested having a fixed price of sugar under the Essential Commodities Act.

CM Fadnavis
 CM Fadnavis

Mumbai: Sugar factories in Maharashtra have demanded that the Centre immediately withdraw the export duty on sugar as about 20 lakh tonnes of sugar is waiting to be exported. They said that without the export of sugar, arrears of sugarcane farmers amounting to Rs 2,500 crore in Maharastra and Rs 1,500 crore in the rest of the country, cannot be paid. The apprehension is that with a bumper crop expected next year, prices may fall further.

The National Federation of Sugar Factories has written to Prime Minister Narendra Modi about the plight of the sugar industry, and has requested him to intervene. Maharashtra chief minister Devendra Fadnavis has also written to the PM on the issue.

 

President of the federation and NCP leader, Dilip Walse-Patil, said, “The sugarcane arrears and related problems have become a concern. We want some immediate steps from the PM to address the issues. There has to be immediate dialogue with neighbouring countries and measures such as encouraging production of fuel ethanol.”

The federation has suggested having a fixed price of sugar under the Essential Commodities Act. This will ensure that the capital employed in sugar production gets reasonable returns. It has also asked the Centre to create a buffer stock of at least 50 lakh tonnes.

Tags: commodities, devendra fadnavis, dilip walse-patil, national federation of sugar factories