Sugar Mills Told to Pay off their Ar­rears

The Economic Times - - Finance & Commodities A Billion Barrel Of Bets On - Madhvi.Sally@ times­group.com

New Delhi: The food min­istry has asked sugar mills to pay off sugar ar­rears for the sugar year 2015-16 and also clear the dues for 2016-17 as soon as pos­si­ble.

A se­nior of­fi­cial in the min­istry said that they have also asked the millers to keep re­leas­ing the sugar stocks pe­ri­od­i­cally and not hoard. It has also urged them to not in­crease the price as well for con­sumers, he said.

In re­gards to Fair and Re­mu­ner­a­tive Price (FRP) set by the cen­tre, the to­tal su­gar­cane ar­rears to be paid by mills to farm­ers for the 2015-16 sea­son end­ing Septem­ber 2016 is .₹ 334 crore while un­der the State Ad­vised Price (SAP), which state gov­ern­ments set to pro­tect in­ter­est of farm­ers, it is close to .₹ 1,206 crore, said the food min­istry of­fi­cial. Most of the ar­rears were held by Tamil Nadu and Ut­tar Pradesh millers.

Fur­ther, till Fe­bru­ary 20, the to­tal FRP dues for the cur­rent sea­son be­gin­ning Oc­to­ber’ 2016 was .₹ 6,054 crore owed by the sugar millers to farm­ers. The to­tal SAP dues stands at .₹ 9,764 crore. In this re­gard, Preeti Su­dan, sec­re­tary, Depart­ment of Food and Pub­lic Dis­tri­bu­tion held a meet­ing with in­dus­try rep­re­sen­ta­tives and of­fi­cials from ISMA on Tues­day.

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