Home Business Govt allows import of 3 lakh tonne sugar at 25% duty

Govt allows import of 3 lakh tonne sugar at 25% duty


The government today allowed import of 3 lakh tonnes of raw sugar at concessional duty of 25 per cent to augment domestic supplies ahead of the festive season.

It had hiked import duty on sugar in July to 50 per cent from 40 per cent to curb dumping of the commodity in India as international prices fell.

Sugar production in the country is estimated to decline to around 21 million tonnes in 2016-17 season ending September from 25 MT in the previous year. The annual demand is 24 to 25 Million tonne. The government had in April allowed duty free import of 5 lakh tonnes of raw sugar to boost domestic supply.

Last month, the government had imposed stock limit on sugar mills for the next two months to keep prices in check during the festive season.

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