Summary
Any sugar kept beyond the first 15 days must be bought from overseas imports.
Retail sugar prices dropped about ten percent, but factory prices fell even more.
The government also raised the payment that sugarcane farmers receive.
Key Points
4 points1
Stock limit increased from 15 to 30 days.
2
Beyond 15 days, sugar must be sourced from imports.
3
Retail price fell 10%; factory price fell 25%.
4
Farmers' fair price raised to 365 Indian rupees per quintal.
New Words to Learn
8 wordsstockholding
the amount of sugar a business can keep stored
bulk consumers
large users such as factories
import
bringing sugar from another country
Advance Authorisation Scheme
a special permission to bring in sugar from abroad
Tariff Rate Quota
a set amount of sugar that can be imported with lower taxes
retail
selling directly to people who buy at the shop
fair and remunerative price
a payment that is fair and gives good earnings
quintal
a weight unit equal to 100 kilograms
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