India Hikes MSP For Sugar
The government hiked the minimum selling price of sugar by Rs 2 per kilogram ahead of election to help millers clear farmers’ dues.
The MSP is the rate below which the mills cannot sell sugar in the open market to wholesalers and bulk consumers like beverage and biscuit makers. “We have increased the MSP of sugar from Rs 29 per kg to Rs 31 per kg,” Food Minister Ram Vilas Paswan told PTI. “This will help millers to make the payment to sugarcane growers.”
Industry body Indian Sugar Mills Association had recently said cane arrears stood at around Rs 20,000 crore at the end of January.
This is a developing story.