Government on Thursday raised the floor price for refined sugar at the mill gate to 31 rupees a kilogram, up from 29 rupees, order said, to help prop up retail prices in the world's biggest consumer of the sweetener.
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India, also the world's biggest sugar producer after Brazil, introduced the floor price for the sweetener in 2018 to help money-losing sugar mill owners clear the dues that they owe to sugar cane growers, a powerful voting bloc, especially in the northern Hindi heartland.
India's next general election is due by May this year.
First Published:Feb 14, 2019 7:50 PM IST