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India to build sugar stockpile to cut surplus supplies in market

Updated : May 22, 2018 06:59 PM IST

The cabinet of Prime Minister Narendra Modi would soon approve a plan to create "buffer stocks" of 3 million tonnes of sugar to suck the extra supply out of the domestic market and to stave off a free fall in prices
A sharp jump in output has led to a drop in local sugar prices to their lowest level in 28 months, making it difficult for mills to pay farmers mandatory cane prices.
India to build sugar stockpile to cut surplus supplies in market

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