Right time to decontrol sugar: Sharad Pawar

This is the right time to decontrol India's sugar sector as production in India is all set to rebound, Agriculture Minister Sharad Pawar said. Pawar, who has recently taken over as the chief of the International Cricket Council (ICC), also said that the Government is actively considering imposing tax on sugar imports. The Government may end stock limits for bulk consumers of sugar, he said in New Delhi. "Sugar sector is heavily regulated. This is the time the millers and the Government should sit together to decide on easing restrictions on sugar sector," he told an industry conference in the capital. The Government sets the benchmark price for sugarcane and the monthly sales quota for mills, who are required to sell 20% of their production at below-market prices to the Centre for resale to the poor through fair price shops. Pawar did not provide a timeframe as to when the Government would end the controls. He also said that he expects a strong rebound in India's agriculture output, which will reduce food price inflation. Last year, India had suffered the country's worst drought in 37 years, hitting farm output. The flood situation in Punjab and Haryana, the main grain producing states is not serious, the Agriculture Minister said.