Uttar Pradesh sugar industry seeks cane price rationalisation.

Sugar millers in Uttar Pradesh are feeling the pressure with cane dues inching upwards to Rs 6,500 crore already. Industry watchers see it rising to around Rs 10,000 crore by season end, thus forcing the topic of introducing revenue sharing formula back on the negotiating table. The downward spiral of sugar prices, coupled with a bumper sugar production year, distressed molasses lifting, a better yield and recovery and cogeneration dues piling up, the millers are in trouble. And since UP is a land-locked state, it’s unable to reap the benefits of exporting sugar.