Govt studies hiking import duty on sugar to 60 percent


NEW DELHI, INDIA: The government of India is considering raising import duty on sugar to 60 percent from the current 40 percent to restrict cheap shipments and maintain domestic prices. In view of lower sugar output estimated during the current 2016-17 marketing year, the government had in April allowed import of 5 lakh tonnes of raw sugar at zero duty to boost domestic supply. “We are monitoring global price movement closely. Prices in the international market are falling and some traders are keen to import even at high customs duty. So, we are considering raising import duty,” a senior Food Ministry official told PTI.

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