New Delhi, January 20
The government has given the go-ahead for the export of 10 lakh tonnes of sugar (sugar) for the crop season 2024-25 ending in September. The sole purpose of this initiative of the government is to stabilize the domestic prices and help the industry. Announcing the decision on social media, Food Minister Prahlad Joshi said that the Chinese sector will be strengthened with this initiative benefiting 50 crore farming families and 50,000 workers. Joshi said this would boost liquidity (cash flow) of sugar mills, timely payment of cane crop arrears apart from availability and help balance prices for consumers. Indian Sugar and Bioenergy Manufacturers Association (ISBMA) has welcomed the decision. In a statement, the director general of the association, Deepak Balani, said that this decision of the government will give a big relief to the sugar mills and they will be able to generate more revenue, which will further ensure timely payment of sugarcane arrears to the farmers. -News-Patiala
