Cabinet Approves Higher Production Assistance To Cane Farmers

The Cabinet on Wednesday approved raising the price the government directly pays to cane growers to 138 rupees ($1.90) a tonne in the new season beginning October 2018, Finance Minister Arun Jaitley said.

Reuters earlier reported that the Cabinet of Prime Minister Narendra Modi was set to raise cane farmers’ production assistance to Rs 138 a tonne in the 2018-19 season, up from Rs 55 in the current season.

On Wednesday, PM Modi’s Cabinet approved other incentives to encourage cash-strapped mills to export sugar in the 2018/19 season, as part of efforts to trim bulging stocks at home.

© Thomson Reuters 2018

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