NEW DELHI (Reuters) - The government said on Friday that it will bar large sugar consumers from stocking sugar equivalent to more than 10 days of consumption.
India, the world's top sugar consumer, is facing a big shortage of the sweetener for the second consecutive year.
Here are the steps taken by the government to fill the supply gap in the past year.
2009
Feb. 17 - The government allows mills to import duty-free raw sugar on condition that an equal quantity of white sugar would be exported within three years.
Feb. 23 - India imposes stock limits on sugar until July 9 to tame prices.
Apr. 10 - The country allows duty-free imports of white sugar. Asks three state-run trading firms and a farmers' cooperative to import up to one million tonnes of tax-free white sugar before
Aug. 1. It exempts mills importing raws until July 31 from an obligation to export whites.
May 26 - India's commodities market regulator bars the launch of new sugar futures contract until the end of 2009 to check speculation and price rise.
June 19 - The government extends sugar stocks limit until Jan. 8, 2010, to ensure adequate supplies in the local market.
June 25 - India raises the minimum price that mills must pay to farmers for sugarcane by a third to a record high of 107.76 rupees per 100 kg to encourage farmers to plant more.
July 31 - India extends duty-free imports of raw and refined sugar.
Aug. 25 - The government asks large consumers to keep sugar stocks enough to meet their requirement for 15 days from 30.
Oct. 29 - The government fixes a "fair and remunerative" price of 129.84 rupees ($2.80) per 100 kg of 2009/10 cane crop.
Nov. 13 - India issues formal orders extending tax-free imports of raws until Dec. 31, 2010 and whites until March 31, 2010.
Nov. 19 - The ruling Congress party says Prime Minister Manmohan Singh will consider changes in fixing cane prices after farmer leaders disrupt parliament demanding higher returns on cane.
Jan 13 - India's cabinet panel allows duty-free imports of refined sugar up to Dec. 31, 2010.
Feb 5 - The government bars large sugar consumers from stocking sugar equivalent to more than 10 days of consumption. The limit would be applicable for six months from Feb 20.
Source : reuters.com