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Centre increases sugar stockholding limit
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Monday, 23 August, 2010, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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The central government has decided to increase the stockholding limit for bulk consumers of sugar from 15 days to 90 days for a further period of 180 days.
This decision has been taken in view of the availability and prices of sugar in the domestic and international markets. It will ensure availability of sugar in the ensuing festival season.
A recent study commissioned by the Indian Sugar Industry has estimated that over 60% of the non-levy (free sale) sugar sold in the market was consumed by the non-household (commercial) sector. Out of this, over 50% was the share of the confectionery, beverage, hotel etc. industries, which were called bulk consumers.
The central government with a view to encourage bulk consumers to buy less of domestic sugar and import more sugar for meeting their requirements imposed stockholding limit on them stipulating that they shall not hold stocks exceeding 15 days of their requirement from domestically produced sugar, vide notification dated May 18, 2010. The validity of this notification was due to expire on August 18, 2010.
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