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Commodity Tips, Sugarcane arrears relatively lower at Rs 78.26 bn in ongoing season
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Cane arrears are lower than the last season because of various measures were taken by the central government and efforts of state governments
Sugarcane arrears are “relatively lower” and sugar mills owe Rs 78.26 billion to farmers so far in the ongoing season, the government said on Thursday.
According to the government data, sugar output is estimated to be higher at around 25 million tonnes (mt) in the ongoing 2017 -18 season (October-September), against 20.2 mt in the previous year.
While sugarcane price is fixed by the Centre, some states like Uttar Pradesh set their own state advised price (SAP), which is normally higher than the central rate.
According to the rule, mills have to pay cane price within 14 days of supply of raw material, failing which interest at 15 percent per annum is charged on the amount due for the delayed period.
In an official statement, the food ministry said: “Despite higher production and lower sugar prices in the current season as compared to previous sugar season, the cane price arrears are relatively lower.”
Cane arrears are lower than the last season because of various measures were taken by the central government and efforts of state governments, it said.
As on date, cane price arrear in the current season on SAP basis is at Rs 78.26 billion in comparison to Rs 89.82 billion during the corresponding period of last season, it added.
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