INDIA - The Ministry of Consumer Affairs revised the raw sugar subsidy to $55.09 (INR 3,371) per metric ton (MT), which is applicable from 1 August 2014 to 30 September 2014.
The current subsidy notification is the fourth consecutive announcement since February 2014.
In February 2014, the Indian Cabinet Committee on Economic Affairs decided that over four million metric tons (MMT) of raw sugar would be eligible to receive subsidies over the next two years.
Please see GAIN IN4011 and GAIN IN4006 for other subsidy and background information. The subsidy is based on international sugar prices and the prevailing rupee-dollar exchange rate.
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