Creating sugar buffer stock, Pawar will approach Cabinet

Creating sugar buffer stock, Pawar will approach Cabinet
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First Published: Tue, Feb 20 2007. 05 25 PM IST
Updated: Tue, Feb 20 2007. 05 25 PM IST
PTI
New Delhi: In the next two weeks, the Food Ministry will put a proposal before the Cabinet to create a buffer stock of sugar in the country.“We will move the Cabinet with the proposal for creating a buffer stock of sugar,” Agriculture and Food Minister Sharad Pawar said on 20 February.
The Cabinet will first decide whether the country needs a buffer stock or not, he said on the sidelines of a function to launch registration of plant varieties of farmers. If the Cabinet agrees, which Pawar believes it will, then it would be decided who should shoulder the responsibility and what should be the quantum of the buffer stock.The minister said there are two alternatives for creating the buffer stock in sugar.
According to the Chinese model, the government has to buy surplus sugar from the industry for storage, Pawar said, adding that the stocks are cleared depending on requirements in both domestic as well as foreign markets.“If the sugar prices go up in the country, the Chinese government releases the stocks for domestic use and if rates are normal, sugar is exported,” he said.
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First Published: Tue, Feb 20 2007. 05 25 PM IST