Cane farmers stare at record payment arrears

Highlights

• Cane farmers may face about ₹25,000 crore in payment arrears from sugar mills by next May, according to industry estimates.
• With an 8% increase in acreage under sugarcane and adequate rainfall expected to lead to a bumper crop, the resultant production glut could hit farmers hard in an election year.
• Satellite images from the latter part of June show that the total acreage under sugarcane in the country is estimated to be around 54.35 lakh hectares this kharif season, an 8% increase from the previous year, according to a statement by the Indian Sugar Mills Association.

Source: The Hindu