92% of sugarcane dues paid by sugar mills; arrears plunge to Rs 423 crore
Out of the total sugarcane price dues payable which amount to Rs.52, 900 crore, only Rs.4, 225 crore are pending.
According to a PTI report, Sugarcane arrears in India have plunged to Rs 423 crore from a record Rs 21,800 crore last year, due to rally in the prices of sugar.
The pending cane price arrears for current sugar season pertain to Uttar Pradesh which amounts to Rs 1,975 crore.
Another major portion of the pending arrears about Rs.1, 600 crore belongs to five sugar group companies namely, Bajaj, Mawana, Modi, Simbhaoli and Rana.
Maharashtra and Karnataka which are major sugar producing states have cleared 96% and 94% dues respectively.
Maharashtra being a major sugar producing state has only Rs590 crore as pending dues.
Central Government has been consistently monitoring the position of cane price arrear and advising the State Governments for speedy liquidation of arrears.