New Delhi: India's sugar output declined by 67% to 8 lakh tonnes in the first 2 months of 2013–14 marketing year (MY'14) as a large number of mills, mainly in Uttar Pradesh, have not yet started crushing operations due to logjam over high cane prices.Sugar production in India, the world's second largest producer and biggest consumer, stood at 24.4 lakh tonnes in the year ago period, according to data compiled by Indian Sugar Mills Association (ISMA).
The sugar marketing year runs from October to September.On Thursday, UP sugar millers refused to start operations despite tax incentives and a warning by the state government to break the deadlock over higher cane prices.Read more
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