Sugar Industry Current Affairs - 2020

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CCEA approves financial assistance to sugar mills for clearing cane dues of farmers

The Cabinet Committee on Economic Affairs (CCEA) has approved proposal to provide financial assistance of Rs. 5.50 per quintal of cane crushed in sugar season 2017-18. It will help to sugar mills to offset the cost of cane which will inturn help sugar mills to clear cane dues of farmers.

Key Facts

The assistance will be paid directly to farmers on behalf of mills. It will be adjusted against cane price payable due to farmers against Fair and Remunerative Price (FRP) including arrears relating to previous years.  Moreover it will also credit subsequent balance if any into the mill’s account. Mills fulfilling eligibility conditions as decided by the Government will be given assistance.

Background

The sugar prices in domestic market have remained depressed since commencement of the season due to higher sugar production against estimated consumption during the current sugar season 2017-18. Due to depressed market sentiments and crash in sugar prices, liquidity position of sugar mills also have been adversely affected, leading to accumulation of cane price dues of farmers which have reached to more than Rs.19,000 crore. Government has taken various steps in recent times in order to stabilize sugar prices at reasonable level and to improve liquidity position of mills thereby enabling them to clear cane price dues of farmers.

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PM Narendra Modi inaugurates International Conference on sugarcane value chain

Prime Minister Narendra Modi inaugurated the International Conference and Exhibition on Sugarcane Value Chain – Vision 2025 Sugar in Pune, Maharashtra.

The 3 days conference has been organised by Vasantdada Sugar Institute (VSI) at Manjari near Pune. Around 1,500 delegates are expected to participate in this conference from across the globe.

Key Facts

  • In this conference, eminent international and national speakers will deliver lectures on significantly different important aspects of sugarcane value chain.
  • Besides, there will be an exhibition showcasing various technological developments in sugar industry.
  • It will also have live demonstrations of sugarcane crop showing various advance technologies and practices in cultivation.

About Vasantdada Sugar Institute (VSI)

VSI is an autonomous body established in 1975 by sugarcane growers of co-operative sugar mills in Maharashtra with support of Central and State government. Former Chief Minister of Maharashtra Vasantdada Patil was founder of the institute. Former Union Minister Sharad Pawar is the present President of VSI.

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