Maharashtra traders, stop buying sugar from mills; want Arun Jaitley to clear Rs 124 per quintal credit.

With the GST rollout nearing, members of the Bombay Sugar Merchants Association have stopped buying sugar from mills from 27 June to avoid losses on purchases made in the next few days until the month end. Traders are predicting short supply in the market which may result in chaos in the short term. The association has asked finance minister Arun Jaitley for a credit of Rs 124 per quintal which they have paid as sugar cess that goes towards the sugar development fund.