"Sugar (export) subsidy is currently not under consideration because international prices are stable. If there is any requirement, the government will examine it at an appropriate time," Goyal told at a virtual press conference.
He was replying to a query if the government has plans to extend sugar export subsidies for the third year in a row.
The minister also mentioned that domestic sugar prices are ruling stable at Rs 40 per kg, a level that covers the cost of production for sugar mills.
"Therefore, sugar mills will not face any problem in clearing cane dues," he added.
Food Secretary Sudhanshu Pandey said the country has exported the highest ever quantity of sugar in the 2019-20 season. About 5.7 million tonnes were shipped.
He also said sugarcane arrears are lower and mills should be able clear it fast this year.
Industry experts are of the view that India needs to export more than 5 million tonnes of sugar this year to ensure domestic rates do not fall below the cost of production and make it difficult for mills to pay cane growers on time.
The surplus stock situation is expected to continue this season as well because domestic sugar production is pegged at 31 million tonne, well above the annual demand of 26 million tonne.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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