New Delhi – The Government is likely to increase the import duty on white sugar to 20 per cent from the current 10 per cent in early November.
It may also scrap the 10 per cent duty on raw sugar imports to encourage value-addition and meet the domestic demand.
We have received different proposals. One is to increase the duty on white sugar imports to 20 per cent and another to scrap the duty on raw sugar imports. We will discuss the issue with the Agriculture and Commerce Ministries and take a proposal to the Cabinet in about 15 days, said Food Minister K.V. Thomas.
The Minister said the availability of sugar position in the country is comfortable. Production in the October-September 2012-13 season is expected to be around 23.5 million tonnes, down from 26 mt produced last year.
Consumption stood at over 22 mt last year while exports were estimated at 3.5 mt.
Several sections of the industry, especially factories in the south and western parts of the country, are in favour of imports and have been demanding a cut in duty on raw sugar.
However, the mills in Uttar Pradesh, which are expecting good sugarcane harvest are against any imports as any such move may exert pressure on prices.
Agencies
Follow this link to join our WhatsApp group: Join Now
Be Part of Quality Journalism |
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast. |
| ACT NOW |
| MONTHLY | Rs 100 |  |
| YEARLY | Rs 1000 | |
| LIFETIME | Rs 10000 | |
