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Government likely to ban Sugar to industries

NEW DELHI (Commodity Online): After a ban on Futures of Sugar, the government is ready with yet another knee jerk action.

This time around Sugar is the piece of villain again. The government is contemplating ban on sugar to industries on reason you guessed right – to control price rise.

The proposal to ban use of sugar for industry has been referred to Law Ministry. This ban will be a major deterrent to confectionery and soft drinks industries, largest bulk sugar consumers.

According to analysts, the government is ill informed that sugar is the sole reason for price rise of entire food stock.

“In fact you can just ignore Sugar and it doesn’t form part of Indian kitchen in a major way. Instead the government should direct its energy to essential commodities and food stocks. They should also find out why distribution of food is in a pathetic condition and why is that despite release of government quota to state governments, it isn’t reaching the people,” said Subhodh Bihola, a food industry expert.

It is believed that this action is just one of the many bickering going on between various ministries in Agriculture.
MCX GOLDPETAL 31 March 2012 contract was trading at Rs 2831 , up Rs. 14 . What's your view on it?
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