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Indian Cabinet approves incentives for 2018/19 sugar exports

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India's Cabinet has approved incentives to encourage cash-strapped mills to export sugar in the 2018/19 season, a government source said on Wednesday, as part of efforts to trim bulging stocks at home.

[NEW DELHI] India's Cabinet has approved incentives to encourage cash-strapped mills to export sugar in the 2018/19 season, a government source said on Wednesday, as part of efforts to trim bulging stocks at home.

Reuters earlier reported that the Cabinet of Prime Minister Narendra Modi was set to raise the price the government directly pays to cane growers to 138 rupees (S$2.59) per tonne in the new season beginning October 2018, up from 55 rupees in the current season.

India wants to get mills to export 5 million tonnes of sugar by providing incentives for overseas sales in the 2018/19 season.

Separately, the Cabinet also approved a national digital communications policy, the government source said.

REUTERS

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