India, the world's second-biggest sugar producer, will soon decide on extending incentives for raw sugar exports, Food Secretary Sudhir Kumar said on Thursday, as mills struggle to pay farmers the stipulated price for cane.
"We will soon consider export incentive for raw sugar," Mr Kumar told a conference of sugar producers in New Delhi.
To help mills, India gave an upto Rs 3,371 a tonne financial incentive for raw sugar exports in the 2013/14 marketing year that ended on Sept. 30.
Local sugar prices are depressed in India, with huge stocks of around 7.5 million tonnes held in October, the beginning of the 2014/15 marketing year.
Copyright: Thomson Reuters 2014
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