The Union Cabinet may clear the sugar export subsidy on Wednesday, said All India Sugar Trade Association (AISTA) chairman Praful Vithalani on Monday.
“As per industrial sources, within next some days, maybe Wednesday this can go through and it will be more helpful to the industry and farmers so it will be a support to the domestic prices,” Vithalani said.
On sugar buffer stocks, Vithalani said, “I am not surprised that in this season 2020, India may divert sugar of 20 lakh metric tonne to ethanol. Because this will help the government to avoid a buffer stock, though we need it of course but I think this will prove helpful that 20 lakh metric tonne sugar will be diverted for ethanol.”
On subsidy payment, he said, “As per today’s discussion with the chairman of a big sugar company and he informed that 70 percentage payout will be done in the month of December and January and the balance 30 percentage can come before March 15.”Watch the video for more