The union cabinet on Wednesday has cleared the export subsidy for sugar exports for the marketing year 2020-2021.
While the mandated sugar exports still stand at 6 million tonne, last year, mills managed to export 5.8 million tonne.
The money allotted for this is quite lower than last year. Last year, it was Rs 10.45 per kilogram and this time, it was has gone back and forth - Rs 9.5 per kilogram and Rs 6 per kilogram. Rs 6 per kilogram was the last figure that was proposed by the union food ministry to the union finance ministry.
CNBC-TV18’s Manisha Gupta has more details.