Area
India
Commodity Group
Sugar
Commodity
All
Date
01/03/2014
Policy Category
Trade
Policy Instrument
Export subsidies
Description
Notified an incentive of 3,300 rupees ($53.20) per tonne for production of raw sugar for exports in an attempt to bring down its stockpile by promoting exports. The government will provide incentive for export of 4 million tonnes of raw sugar produced in the 2013/14 and 2014/15 sugar marketing years, that run from October to September. The incentive of 3,300 rupees will be applicable for exports in February and March. From April onwards, the incentive will be recalculated after every two months depending on the rupee-dollar exchange rate.Mills need to pay incentives to make cane payments to farmers, it added. ($1 = 62.0300 Indian rupees)
