January 11, 2019 / 10:11 AM / 6 months ago

India considering raising minimum selling price of sugar - TV

A man packs sugar for sale inside a shop at a marketplace in Ahmedabad, India, September 19, 2018. REUTERS/Amit Dave/File Photo

NEW DELHI (Reuters) - The government is considering raising the minimum selling price of sugar, television news channel ET Now reported on Friday.

Prime Minister Narendra Modi’s office was directly examining the proposal, ET Now said quoting sources.

The move is likely to help farmers, who are struggling to export their surplus due to fall in global prices and a strengthening rupee.

India’s sugar exports are likely to be far lower than a 5 million-tonne target set by New Delhi despite a government push for overseas sales, industry officials said.

Reporting by Nidhi Verma and Neha Dasgupta; Editing by Rashmi Aich

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