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India raises 2017/18 sugar cane price by nearly 11 pct - finance minister
May 24, 2017 / 1:38 PM / 6 months ago

India raises 2017/18 sugar cane price by nearly 11 pct - finance minister

NEW DELHI (Reuters) - The Indian cabinet has raised by nearly 11 percent the price sugar mills must pay to cane growers in the next sugar season beginning October, the country’s Finance Minister Arun Jaitley said on Wednesday.

India's Finance and Defence Minister Arun Jaitley attends a seminar with state finance ministers on the Goods and Services Tax (GST) issues, in Srinagar May 18, 2017. REUTERS/Danish Ismail/File photo

India, the world’s biggest sugar consumer, has asked mills to pay at least 255 rupees ($3.93) per 100 kg from Oct. 1, 2017, when the new sugar season begins, up from 230 rupees in the previous year.

($1 = 64.83 rupees)

Reporting by Mayank Bhardwaj; Editing by Malini Menon

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