New Delhi: Government policies have ensured stable domestic sugar prices and faster payments to farmers in recent years, a senior official said, reported PTI.
Emphasizing the consistency of government policy, the official stressed the need for dynamism and flexibility to address the country’s evolving needs, particularly considering the dependence of the sugarcane crop on agro-climatic conditions.
“It is noteworthy that despite unprecedented volatility in global sugar prices, India has maintained stable sugar prices,” the official remarked.
Regarding dues owed to farmers, the official highlighted that nearly all outstanding dues for the 2022-23 season and earlier seasons have been settled, with approximately 84% of dues for the current 2023-24 season already cleared—a historic low in outstanding payments.
Given India’s status as the world’s largest consumer of sugar, the official outlined the government’s priorities: ensuring sufficient sugar availability at reasonable prices for consumers and maintaining ample closing stock by diverting surplus sugar for ethanol production, with exports restricted since June 2022.
“The government has consistently implemented policies to safeguard the interests of Indian farmers and consumers, fostering industry self-sufficiency,” the official underscored.
