Zee Media Bureau
New Delhi: The Union Cabinet on Wednesday approved Rs 6,000 crore interest-free loan to sugar mills for making payments to cane farmers.
As compared to the sugar season of 2006-07, the current sugar season is worse, as Rs 22,000 crore cane arrears of farmers are still pending, prices both in domestic and global market have fallen to the lowest levels in the last 6-7 years.
India's sugar production is estimated to touch all time high of 28.3 million tonnes (MT) in the ongoing marketing year, 2014-15, as mills have already manufactured 27.95 MT so far.
As compared to about 24.04 MT of sugar produced till May in the last 2013-14 sugar season (October-September), the Indian sugar industry has so far produced a record 27.95 MT, Industry body Indian Sugar Mills Association (ISMA) said in its latest estimate.
Sugarcane crushing operations across the country are about to end. Only 19 sugar mills are crushing at present.
With PTI Inputs
