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India will consider extending the incentives for raw sugar exports after Wednesday when leading cane growing states forecast their sugar output for the new season beginning October, two government sources said on Monday.
“The cane commissioners of leading cane growing states will present their estimates on October 29 and that will set the ball rolling for a decision on raw sugar export subsidy in 2014-15,” a government official with direct knowledge of the matter, said.
In February, the government gave Rs 3,300 ($53.82) a tonne subsidy for production and exports of up to four million tonnes of raw sugar to help mills cut down large stockpiles. However, a delay in extending the incentives for the new 2014-15 season had led to misgivings in some quarters that New Delhi was against giving subsidy for foreign shipments of raw sugar.
($1 = 61.31 rupees
