Subsidy for Sugarcane Growers Unable to pay for sugarcane deliveries because of high input costs and low sugar prices, the sugar industry approached the government for an intervention. The arrears owed to farmers had reached $2.98 billion at the end of March 2018, and the government of India (GOI) finally decided to offer them a subsidy of Rs.55/MT ($0.82/MT) for the stocks sold to the mills. It will be issued to farmers’ accounts directly, and the mills will cover the difference. However, the subsidy is only 7.68 percent or $229 million of the total due.
For the 2017/18 sugar season, GOI’s set price for sugarcane is Rs.2,550/MT ($38/MT), while Uttar Pradesh raised the rate to Rs.3,150/MT ($47/MT). Since the season started,...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
A federal appeals court paused a USITC ruling against President Trump’s use of Section 122 to impose 10-percent global tariffs. A bipartisan group of 80 House members asked USTR to investigate specialty crop imports from Mexico for unfair trade practices. India notified the WT...
