Agriculture minister Sharad Pawar Thursday ruled out import of white sugar. He said domestic stocks and sugar production in 2004-05 (October-September) are sufficient to meet domestic requirements. | |
| "There is no question of importing white sugar. Our own production and carry-forward stocks this season will be able to meet the consumption requirements of the country," Pawar told reporters on the sidelines of an industry conference. |
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| He said it is better to import raw sugar rather than processed white sugar since the price of the former is less and it also generates employment. |
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| Import of raw sugar also leads to a better capacity utilisiation of the mills, Pawar said. |
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| Imported raw sugar has to be exported after processing within 24 months of import. However, if there is a need, it can be sold in the domestic market during this period in the interest of the consumers, Pawar said. |
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| "This will provide a cushion against any major rise in domestic prices," the minister said. |
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| According to Indian Sugar Mills Association, India's closing stock for sugar is projected to fall to 3 million tonnes in 2004-05 from 8.5 million tonnes in the previous year. |
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| The association also said sugar output""which was at 13.8 million tonnes in 2003-04""is likely to fall to 12 million tonnes in the current year. |
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