Steps to incentivize the export of raw sugar
NEW DELHI: The Government has taken a number of steps to incentivize the export of raw sugar produced in the country and use the proceeds to clear sugarcane dues. Export subsidy in the form of incentive for Marketing and Promotion Services of Raw Sugar Production has been provided during 2013-14 and 2014-15 sugar seasons. The incentive available under the scheme is utilized for clearing cane price dues of farmers. Incentive of Rs 183.87 crores was disbursed during 2014-15 financial year and about Rs 97 crores has been disbursed during current financial year till 30th November, 2015. This information was given by the Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan in a written reply in Lok Sabha on Tuesday.
The Minister said that with a view to boost the price sentiments in the domestic market and reduce the surplus stocks of sugar, 40 Lakh MT of sugar has been allocated as Minimum Indicative Export Quota (MIEQ) amongst 570 sugar mills for current sugar season 2015-16 and have been asked to discharge their export obligation accordingly.