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Byline: Our Bureau
Sugar mills body, rice exporters welcome decision
The Government has decided to allow export of an additional one million tonne of sugar and has cut the minimum export price (MEP) for basmati by $200 a tonne.
The Empowered Group of Ministers under the Finance Minister, Mr Pranab Mukherjee, on Tuesday decided to permit further sugar exports while reducing the MEP on basmati to $700 a tonne from $900 a tonne, officials said.
A formal announcement to this effect is likely to be made after seeking the Election Commission's approval. This is mainly due to the ongoing assembly elections in Uttar Pradesh, where sugarcane is a major …