The Hindu Business Line : Parliament okays amendments to commodities Act

THE Rajya Sabha on Tuesday passed amendments to the Essential Commodities Act, 1955, aimed at strengthening the regulated release mechanism for supply of free sale sugar.

The Union Minister of Food, Consumer Affairs and Public Distribution, Mr Sharad Yadav, assured the House that all steps would be taken to protect the interests of sugarcane farmers and sugar consumers under the provisions of the Act.

The Government is regulating the supply of free-sale sugar under the monthly `regulated release' mechanism to ensure availability of sugar throughout the year at reasonable level.

However, this was challenged in the courts which led to difficulties in its operation and decline in sugar prices which affected the capacity of sugar mills to pay cane price to sugarcane growers.

The Union Government has now amended the Essential Commodities Act, 1955 to safeguard the interests of cane growers, mills and general public and to re-stabilise the market prices of sugar.

The Government has recently taken steps to mitigate the hardship of sugarcane growers and help the sugar industry.

These include the creation of a buffer stock of 20 lakh tonnes at an outgo of Rs 412 crore from the Sugar Development Fund.

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