The government should allow a greater diversion of sugar for ethanol; 7 million tons of export: NFCSF

The government should allow a greater diversion of sugar for ethanol; 7 million tons of export: NFCSF

October 22, 2019 Off By Admin

Source: https://newsjizz.in


New Delhi, August 28 () Given that the sugar supply is expected to be at a record level in the next year, the NFCSF industry body urged the government on Wednesday to allow the diversion of more sugar for ethanol production and at least 7 million tons of export.

The country is likely to have a total supply of 43 million tons of sugar during the 2019-10 commercial campaign (October-September), taking into account 14.5 million tons of remaining stocks and a probable production of 28.5 million of tons next year, National Federation of Sugar Cooperatives Factories (NFCSF) said.

Next year will be the most challenging. Total sugar availability would be 43 million tons, setting a new record in the history of the sugar sector in India, said NFCSFL president Dilip Walse Patil at its 60th annual general body meeting. of the cooperative.

There is a great need to allow the diversion of the greatest amount of sugar for the manufacture of ethanol and allow the export of at least 7 million tons of the sweetener, he said, and he hoped that the government will soon present strong policies in this regard.

With respect to exports, Patil urged the government to announce the export policy as soon as possible and to continue providing fiscal support compatible with the WTO.

It also demanded the early creation of a price stabilization fund to help the industry in times of crisis.

Patil also asked the government to calculate all financial costs, including depreciation in the restructuring of the minimum price of sugar support, to match it with the average cost of production.

Once we do this, the current financial stress that the country’s sugar sector is going through will be diluted and pave the way for the creation of a financially secure sugar industry in the coming years, he said. The sector is in trouble due to the production of surplus sugar and the situation of depressed prices. The mills cannot pay the sugarcane producers due to the financial crisis. However, the government intervened and took several measures to ease its burden and ensure that farmers’ payments are made on time. LUX BAL