Uttar Pradesh sugar mills owners meet CM Adityanath, seek bailout package

Millers had met CM in Lucknow over sugar price fall, possible fallouts

The fall in domestic sugar prices has brought mill owners at the doorsteps of Uttar Pradesh Chief Minister Yogi Adityanath, seeking an immediate bailout package to keep the industry afloat.

The ex-factory sugar prices have fallen by almost 15 per cent from about Rs 3,750/quintal to Rs 3,200/quintal now, when UP cane price, State Advised Price (SAP), was fixed in the last week of October 2017.

While, UP cane crushing season is on in a full swing, with the mills producing about 4.5 million tonnes (MT) of the sweetener, the mills have already accumulated arrears of about Rs 18.50 billion.