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Union govt hikes ex mill price of sugar in UP

Lucknow, Feb 16(UNI) In a major relief to the sugar industry struggling with low market price of the commodity and mounting arrears of the farmers, the Union government has hiked the minimum selling price (MSP) of sugar by 7 percent to Rs 31 kg.
Now, Rs 31 a kg ex-mill becomes a benchmark for wholesale market price.
The sugar industry not enthused with the hike said the hike will not make much of an impact in medium term on the domestic sugar sector, bogged down by a global glut and rising inventories.
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