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India To Pay Rs 45 Per Tonne Incentive To Cane Growers

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New Delhi, Nov 18 (ANI): India will for the first time pay sugarcane farmers part of the cost for produce that they sell to money-losing mills, Piyush Goyal said on Wednesday after a cabinet meeting chaired by Prime Minister Narendra Modi. The move will help mills hit by a free-fall in local sugar prices that was triggered by five years of surplus output. Citing poor finances, mills have not been paying millions of dollars to cane growers, who form a major voting bloc. The government would directly pay farmers 45 rupees ($0.68) for every tonne of cane produced, leaving sugar mills to bear nearly 98 percent of the cost. The move is aimed at wooing politically influential cane growers and helping sugar mills recovering from a global glut.

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