You are here: Home > Sectors

13/03/2018 11:13am

Sugar industry eyeing at govt to scrap export duty amidst ‘record output’

image Sugar industry eyeing at govt to scrap export duty amidst ‘record output’

New Delhi, Mar 13 (KNN) The sugar industry comprising of a fair share of Micro, Small and Medium Enterprises (MSMEs) are expecting the government to announce scrapping off export duty on their commodity amidst forecast of a good output.

Prakash Naiknavare, MD of National Federation of Cooperative Sugar Factories (NFCSF) in a press interview said that the industry is looking at the government to soon remove the export duty on sugar.

The industry representatives earlier met the food ministry officials citing the second advance estimate valuing at 26.1 million tonnes. The figure is a follow up of an estimated 29.5 million tonnes.

The chopping off of export duty is also important in order to reduce the closing stock of 2017-18. The industry is aiming to export over 2 million tonnes of sugar till late 2018.

Also the sector has urged the government to reinstate the mandatory sugar export scheme for the mills that provided an incentive of Rs 75 per tonne of sugarcane for the sugar mills llinked to exporting allocated quota of sugar. (With Inputs from a media report) (KNN/DA)

Share

Related Articles

Comments

  1. Bulk Sugar
    Bulk Sugar 20/11/2021 10:24 AM

    Stunning post! Thanks for sharing with us.

    Reply to this comment

Write a Comment

Your email address will not be published.
Required fields are marked *