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Sugar production set to hit a record high next season
News:
- According to industry estimates, cane farmers may face about Rs 25,000 crore in payment arrears from sugar mills.
Important facts:
2. As per the Indian Sugar Mills Association estimate, the total acreage under sugarcane in the country is estimated to be around 54.35 lakh hectares this kharif season, an 8% increase from the last year.
3. ISMA expects mills to produce a record of 350-355 lakh tonnes of sugar next year, higher than the 322 lakh tonnes produced this year.
4. According to Food Ministry in May 2018 mills pending dues to farmers had crossed Rs 22,000 crore .
5. In June, the arrears had dropped to Rs 18,000 crore and is likely to drop further.
6. The dues are likely to rise again to atleast Rs 25,000 crore by the summer of 2019.
7. Increase in exports will reduce inventory and enhance cash flow to mills and ultimately to farmers.
