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.
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