Govt raises sugar cane prices by 33%

Govt raises sugar cane prices by 33%
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First Published: Thu, Jun 25 2009. 10 40 PM IST
Updated: Thu, Jun 25 2009. 10 40 PM IST
New Delhi: India, importing sugar for the first time in three years, raised the price of cane it pays to farmers by 33% to stem a decline in production and cut reliance on overseas purchases.
The world’s biggest sugar consumer will pay Rs107.76 for 100kg, compared with Rs81.18 a year ago, home minister P. Chidambaram told reporters after a cabinet meeting in New Delhi on Wednesday.
A decline in sugar production for a second year has forced the nation to become a net buyer for the first time since 2006. Higher prices may not necessarily lead to a bigger cane crop as the country is forecast to receive below average rain this year.
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First Published: Thu, Jun 25 2009. 10 40 PM IST