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Tough times for sugar millers as State scraps cheap loans

A shopper at a supermarket’s sugar section. Sugar price is expected to rise when the market factors in ex-factory price increase effected last week. PHOTO | FILE

Millers who depend on cheap government loan for maintenance of their plants and payment to farmers are now faced with tough times following the government’s move to scrap the Sugar Development Levy (SDL).

The Sugar Directorate has been using the SDL to advance loan to millers’ with financial difficulties who have been relying on the fund to pay farmers and meet other requirements for effective operation.

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Note: The results are not exact but very close to the actual.

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