date:Jan 03, 2014
ee a fourth straight year of surplus production - and falling local prices.
This month, in a tortuous spiral of subsidies, the government agreed to give mills interest-free loans to help pay government-set prices to cane growers.
With tax breaks, mills would produce raw sugar, cutting their white sugar output and reducing stockpiles.
Exports are unviable. Global sugar prices are falling and the rupee is becoming stronger. The government aid can make Indian raw sugar competitive in the world m