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CCEA approved continuation of incentive scheme for marketing of raw sugar production

Feb 20, 2015 16:15 IST

The Cabinet Committee on Economic Affairs (CCEA) on 19 February 2015 approved the continuation of the incentive scheme for marketing and promotion services of raw sugar production during the current sugar season (October-September) of 2014- 15.

The approval was granted for raw production of 14 lakh metric tonne of sugar.

The CCEA also fixed uniform rate of export subsidy at 4000 rupees per metric tonne for 2014-15 sugar season which is much higher than 3371 rupees per tonne fixed in 2014 for August-September period.

Further, in case of mills having alcohol production capacities, the incentive will be available to them if they offer to supply ethanol to oil marketing companies (OMCs) under the Ethanol Blending Programme (EBP) up to 25 percent of their annual production level of alcohol.

The decision will help sugar mills to clear the cane price dues of the farmers.

Earlier in 2013, the UPA Government had announced a subsidy for exports of raw sugar up to 4 million tonne in order to help the cash-starved industry clear sugarcane arrears to farmers. However, subsidy scheme ended in September 2014 as the NDA government did not extend the scheme for the current marketing year.

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Read more Current Affairs on: Incentive scheme , raw sugar production , CCEA

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