Govt may cut levy sugar quota for Nov
Govt is likely to cut levy sugar quota with the peak demand season almost over.
By ET Bureau |
NEW DELHI: With peak sugar demand season now almost behind it, the government is likely to cut the levy sugar quota for November by around 9%.
According to official sources, the government plans to provide 214,345 tonnes of levy or subsidized sugar in November, compared with a far higher 235,000 tonnes in October. End October brings to a close a majority of seasonal festivals including Ganesh Chaturthi, Dussehra, Diwali, Chhat Puja, etc.
India is the world���s largest sugar consumer and demand for the commodity peaks during the festival season between August and early November.
Interestingly, the government had hiked the subsidized sugar quota from only 10% of the total output of mills to 20% from October 1, the beginning of the 2009-10 sugar year. Over 600 mills sell sugar at a subsidized price to the government for its welfare and PDS needs currently.
According to official sources, the government plans to provide 214,345 tonnes of levy or subsidized sugar in November, compared with a far higher 235,000 tonnes in October. End October brings to a close a majority of seasonal festivals including Ganesh Chaturthi, Dussehra, Diwali, Chhat Puja, etc.
India is the world���s largest sugar consumer and demand for the commodity peaks during the festival season between August and early November.
Interestingly, the government had hiked the subsidized sugar quota from only 10% of the total output of mills to 20% from October 1, the beginning of the 2009-10 sugar year. Over 600 mills sell sugar at a subsidized price to the government for its welfare and PDS needs currently.
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