March 16, 2015
Sucrosenews | http://goo.gl/tkI1Xj
India's money-losing sugar mills are looking for another round of government incentives to export refined products as a supply glut hammers global and local prices, with no end in sight.
Trade minister Nirmala Sitharaman on Friday agreed with the producers body, the Indian Sugar Mills Association (ISMA) that exports had become uneconomical due to record output in top producers Brazil, India and Thailand. Also, weak crude oil prices mean a lower diversion of cane towards ethanol, bumping up sugar supplies, Sitharaman said replying to a question in the lower house of parliament.