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Saturday, 25 May 2013

Indian Ministers Group allows further 1 mln T of sugar exports

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Reported by: Asianet/UNB
Reported on: March 28, 2012 15:10 PM
Reported in: Business
NEW DELHI, March 28 (Asianet/UNB) - The Indian government on Monday allowed further one million tonnes of sugar exports in view of surplus production and to help mills clear mounting cane arrears, that have reached Rs 8,409 crore (US$1.6 billion)uo to February, to farmers.

The decision to allow exports was taken by an Empowered Group of Ministers (EGoM), headed by Finance Minister Pranab Mukherjee, as the country has 1.64million tonnes of surplus sweetener, sources said. The food ministry will frame new modalities for expediting sugar exports, they added. The EGOM also decided to continue exports of wheat and non-basmati rice, which was allowed under Open General Licence (OGL) in September last year, on record production.
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