date:Apr 01, 2012
the international market, said Abhinash Verma, director-general of Indian Sugar Mills Association.
Notably, last year the industry bore the brunt by losing approximately Rs 1,500 crore on account of delay in decision-making by the government to allow export last year.
Delay in lifting the levy sugar by the government is another driving factor for the losses as this quota is sold at 65% lower than the open market price.
For example, in Maharashtra around 4.93 lakh tonnes sugar under the levy