Medium sugar ends mixed in listless trade. Indian Sugar Mills Association (Isma) has demanded that the government should create a Price Stabilisation Fund (PSF) to pay farmers the difference between the Fair and Remunerative Price of sugarcane set by the government and price payable as per the revenue-sharing formula that prescribes sharing revenue between farmers and medium sugar mills in 70:30 ratio respectively. The gap between the FRP and the price payable as per the revenue sharing formula should be filled in with money from the Price Stabilisation Fund when sugar prices fall.” Claiming that along with the recommendation to increase FRP, the CACP has been also recommending to the government to implement the revenue sharing formula and set up PSF, Reddy said the government has acted only on the recommendation to increase FRP.Medium sugar ends prices mixed in an otherwise listless Vashi wholesale market here today following alternate bouts of buying and selling.
While, small sugar ruled steady in absence of any large- scale buying. Medium sugar (M-30) was quoted at Rs 3,780/4,010 per quintal from Tuesday’s closing level of Rs 3,760/4,016.Small sugar (S-30) was steady at 3,712/3,810 per quintal. Following are today’s closing rates for sugar (per quintal) with the previous rates given in brackets:
Medium sugar (M-30) quality: Rs 3,780/4,010 (Rs 3,760/4,016). Small sugar (S-30) quality: Rs 3,712/3,810 (Rs 3,712/3,810).Though there is no clarity about continuation of the Sugar Development Fund post GST, the industry body is more concerned about the PSF. Isma presented its case to the Commission for Agricultural Costs and Prices (CACP), which had met to deliberate upon and listen to the views of the stakeholders about 2018-19 FRP.
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