Cabinet extends stockholding limit on sugar by 6 months till October 28.

The Union Cabinet today approved a proposal to extend the stockholding limit on sugar by another six months till Oct 28. States can continue issuing orders on stock limits with prior approval of the Centre. And This expected to improve the availability of these commodities to the general public at reasonable rates, and control tendencies of hoarding and profiteering. The limit on stockholding was initially approved for a period of six months which ended on Sep 30. And on Oct 27, the limits were extended for another six months which was due to end on April 28. To maintain domestic prices at reasonable levels, the government on April 5 allowed imports of 500,000 tonne of raw sugar at zero duty, by millers that have their own refining capacity.