The government has injected 35,000 crore rupees into the sugar industry over the past six years
A final government update remained today that over the past six years, this government has successfully injected Rs 35,000 / -crore into the cash-strapped sugar industry by enabling the conversion of raw materials. made from excess sugar cane (ie cane juice, sugar, sugar syrup) for the production of ethanol. This certainly helped in the prompt payment of contributions from the sugar cane producers, thus improving their financial situation. For the current season, it is expected that over 20,000 rupees / crore will be injected through the ethanol blending program alone, which will fuel the growth of the rural economy, the most resilient sector in this season. difficult period of COVID.
Sugar production for the next 2021-22 sugar season is expected to be around 340 Lakh MT, in addition to the opening stock of 90 Lakh MT which is cumulatively well above the domestic consumption of 260 Lakh MT. Of this quantity, an excess sugar quantity of 35 Lakh MT is proposed to be diverted to ethanol. These are excess amounts of sugar to be diverted for ethanol production, otherwise they would have to be exported at a subsidized rate to other countries or if they were released into the market, sugar prices would drop well below the cost of production, resulting in total chaos.
Powered by Capital Market – Live News
(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)