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India : GOVT. proposes to procure 25 lakh tonne sugar
Publish Date : 27-Apr-2015
In order to provide some relief to the sugar plants and farmers, who are still to receive their full payment, the Indian government has proposed the procurement 25 to 27 lakh tonne sugar stock from factories at market price.
According to the plan, the Food Corporation of India would procure at Rs 3,100 per quintal, the existing market price of bulk sugar is around Rs 2,300 per quintal.
A group of Maharashtra State Federation of Cooperative Sugar Factories, together with former Union Agriculture Minister Sharad Pawar, held a meeting with Finance Minister Arun Jaitley on Wednesday.
State cooperation minister, Chandrakant Patil, said nearly 11 lakh tonne sugar will be bought from Maharashtra alone.
He added, "The proposal has been submitted to Union finance minister Arun Jaitley, who has given a positive response. Chief minister Devendra Fadnavis is going to take up the issue as he is scheduled to talk to the finance minister in the next two days."
