More reports on: Economy - general

Raw sugar export sops to continue

20 February 2015

The CCEA, chaired by the Prime Minister Narendra Modi, also decided to continue the incentive for production and marketing of raw sugar during current sugar season 2014-15 (October-September) of an estimated quantity of 14 lakh million tones.

As the quantity is fixed, settlement of claims will be prioritised on the basis of the date of export / deemed export as certified by concerned customs and excise authorities.

The CCEA further approved fixed uniform rate of Rs4,000 per tonne for 2014-15 sugar season. Other conditions will remain the same, as were last year except that in case of mills having alcohol production capacities where the incentive would be available if they offer to supply ethanol to OMCs under the EBP up to 25 per cent of their annual production level of alcohol.

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