The decision was taken at a meeting of the state cabinet, chaired by Maharashtra Chief Minister Devendra Fadnavis here today.
Sugar would be purchased through the NCDCX, an official statement issued after the Cabinet meeting said.
The Cabinet also approved a five-year extension of tenure of statutory development boards for Vidarbha, Marathwada as well as the rest of Maharashtra. The extension would be with effect from May 1 next year.
It was also decided to set up a cabinet sub-committee to take a policy decision on the issue of rejuvenation of the Co-operative Multi-purpose Bank for Agriculture and Rural Development Limited, popularly known as Bhu-Vikas Bank.