Mumbai, Aug 23 (ANI): Maharashtra Chief Minister Ashok Chavan has expressed joy over reports of a bumper sugarcane crop, which assures financial assistance to sugar mills.
Maharashtra is likely to produce 8.5 million tonnes of sugar in November 2010 compared to about 7.2 million tones in the same period last year.
According to Indian Sugar Mills Association figures, acreage in India has risen by 18.6 percent to 5.28 million hectares in 2010-11.Following the bumper harvest this year, the State government has decided to revive over 50 sugar mills, which had remained closed for years.
In the 2009-10 season, 141 sugar mills in the state were operational.
"The produce of the sugarcane crop this year has been extremely good due to abundant rainfall. Now, we want the processing and crushing of sugarcane to be done efficiently. For this, the sugar mills, which has been closed, would have to be revived. We propose to give sops and financial assistance to such factories," Chavan said on Sunday.
Higher ending stocks and early crushing would make the supply situation comfortable and drag down domestic sugar prices further, experts said, adding that India is unlikely to import sugar next year due to abundant supplies. By Ritvick (ANI)