Pune: Maharashtra’s sugar commissioner has given an in-principle approval for making part of the cane payment in the form of sugar as sugarcane price arrears in the state have increased to Rs 4,576 crore. If implemented, this move could create a big decentralised stock holding with farmers, which can break the monopoly of traders in the sugar trade.
“Apart from subdued sugar prices, sugar millsNSE 0.62 % have been complaining about lack of demand for sugar. Some sugar mills, which have been facing liquidity crunch, have agreed to pay farmers in kind,” said Shekhar Gaikwad, commissioner (sugar), Maharashtra.