Login ID:
Password:
Partner Login
Contact Us : 07666977977

Uttar Pradesh Sugar Mills Yet To Pay Rs 1,500 crore To Cane Farmers

13 Sep 2017 5:53 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - Uttar Pradesh sugar mills yet to clear Rs 1,457.50 crore arrears which is payable to sugarcane farmers for current sugar season's cane purchases, according to the data by Sugarcane Development & Sugar Industry Department of Uttar Pradesh.

As per the data, Uttar Pradesh sugar mills have been purchased the sugarcane worth of Rs. 25,386.77 crore during currents season between, 1st October 2016 to 15 July 2017. While, out of the total payable amount for the purchase, Uttar Pradesh sugar mills have paid about Rs. 23,929.27 crores of due as of September 11th, 2017.


However, Uttar Pradesh sugar mills have paid 94.26 percent or Rs 1,457.50 crore out of the total sugarcane arrears for current sugar season 2016-17 (October-September). In 2015-16 it was Rs. 46.79 crore, while in 2014-15 the arrear was Rs. 26.73 crore on same date.


On other hand, Central Government has advised to the Uttar Pradesh State Government to take strict action as per provision of law against the defaulting sugar mills to clear pending dues of farmers, as per the Sugarcane (Control) Order, 1966.


According to the that, sugar mills have to set out the payments of sugarcane price within 14 days of supply, while failing which interest at the rate of 15 percent per annum on amount due for the delayed period beyond 14 days is payable.


Although, state government has charged the interest of Rs 334.66 crore so far on outstanding amount.


However, out of the total outstanding about 86.85 percent or about Rs. 1,262.87 crore are owed by the state's private sugar mills, while rest amount Rs. 194.63 crore owed co-operative sugar mills.

Meanwhile, Uttar Pradesh sugar mills have crushed 836.61 lakh tonnes of sugarcane and produced the highest sugar output so far at 87.73 lakh tonnes at recovery rate of 10.61 percent. In previous season Uttar Pradesh mills had 68.55 lakh tonnes of sugar output, thus the sugar production has increased by 28 percent year on year.

(By Commoditiescontrol Bureau: +91-22-40015532)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Special Reports
Import duty Hike, Stockholding Limits To Improve Profit...
ICE Raw And White Sugar Futures - Weekly
Technical : Sugar M Grade Delhi Spot : Correction Is Li...
Sugar Recovers to Post 9% Weekly Gain, But Don't Expect...
Technical : Sugar M Grade Delhi : Correction Continues
more
Top 5 News
Rise In Acreage Likely To Moderate Cotton Prices In FY1...
India Apr-Nov 2017 Cumin Seed Exports Up 14.39% (Y/Y) A...
Fasal Bima Yojana: Govt To Increase Coverage To 50% Of ...
Technical: Moong Green Peas Jaipur Spot : Expect Consol...
Technical : Sunflower Oil Kakinada Spot : Accumulate
Top 5 Market Commentary
Argentina Soy Oil (FOB) Price Slips On Weak CBOT Soy Oi...
DJ Nymex/Comex Globex Metals Futures Hourly Price Updat...
*DJ Sime Darby Group CEO: Company Is Open to Selling It...
*DJ Malaysia's Sime Darby Bhd. Group CEO Says Comp...
Edible Oil & Oilseed Market Highlights
Copyright © CC Commodity Info Services LLP. All rights reserved.