|
Government would not hesitate to resort to import of white sugar to contain the rise in sugar prices, said Shri Sharad Pawar, Minister of Agriculture, Consumer Affairs, Food and Public Distribution here today. Addressing media persons on the steps taken by his ministry to arrest the increase in sugar prices, Shri Pawar said that there was no shortage of sugar in the country as there was a stock of 205 Lakh MT of sugar against a requirement of 180 lakh MT in the current sugar season. Under Advance License Scheme, so far 11 lakh MT of raw sugar has been contracted or has reached the country. Further, six lakh MT of raw sugar is in the process of being contracted. During 2004-05,Government has released 40.5 lakh MT of sugar for internal consumption as against 39.94 lakh MT during 2003-04, the minister said.
Announcing a few decisions taken by the ministry in bringing down sugar prices, Shri Pawar said the government has decided to release an additional four lakh MTs of sugar in the market in the current quarter of 2005,of which two lakh MT would be released in the current month and one each in February and March, 2005 and convert the unsold Free – sale Quota of sugar available with the mills at the end of the month into levy sugar. The Government also would increase the period of fulfillment of export obligation of sugar under Advance License Scheme from the current 24 months to 36 months to accelerate import of raw sugar or even waive it altogether should the need arise, he said.
With these measures the increase in the price of sugar should come down immediately, the Minister hoped and said that already a decision has been taken whereby the Forward Markets Commission had directed Commodity Exchanges to hike the margin of sugar futures from 8 percent to 33 per cent as a measure of containing the increase in sugar prices in the country.
SBK/Hb
|
