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Pune, Mar 27: Union agriculture minister Sharad Pawar on Tuesday said the Centre has prepared a Rs 850 crore relief package for sugar exports and sent it for approval of the Election Commission (EC).
The government would create a buffer stock by procuring 20 lakh tonne of sugar which will be stored in sugar factory godowns for which the Centre would pay storage charges.
He said the country’s sugar production this year was expected to be around 250 lakh tonne over and above a carryover stock of 40 lakh tonne from last year. The country’s annual requirement was about 190 lakh tonne.
Pawar said the Centre would bear a subsidy of Rs 1,300 a tonne for sugar to be exported by the states which had ports and Rs 1,400 a tonne for those in the hinterland.
Ban on sugar exports was lifted in January on expectations of higher production this season, the agriculture minister said in Pune.
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