Record output turns sugar bitter |
In year 2015, Maharashtra has turned out the highest sugar output ever in its 55-year history. By May, it`s expecting an output of a record 10.3 million tons, 34% more than in 2014. Sugar prices have crashed by Rs 700 per quintal and factories have not been able to pay cane farmers their dues. The arrears to cane farmers are estimated to hit a steep Rs 4,500 crores by the end of the season. State cooperatives minister Chandrakant Patil is expected to meet Union food minister Ram Vilas Paswan and ask the Centre to take a buffer stock of sugar from Maharashtra, reschedule loans from the sugar sector and extend fresh loans.
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