The Cabinet Committee on Economic Affairs (CCEA) on Tuesday deferred a decision for the third time on offering subsidy for raw sugar exports up to four million tonne over two years, sources said. The CCEA is expected to take up the issue again on Wednesday, as key members sought more consultations over the quantum of subsidy amid persisting differences between the ministries of agriculture and food. Last week, agriculture minister Sharad Pawar had strongly favoured offering mills R3,500 per tonne subsidy on raw sugar exports, rejecting the food ministry?s proposal to provide R2,000 per tonne. Earlier in the day, expectations of the export sops ? aimed at encouraging cash-starved mills to diversify their product base and reduce a glut in refined sugar ? lifted stocks of leading companies, including Bajaj Hindusthan and Balrampur Chini Mills, by more than 2% each.
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