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Government allows import of 3 lakh tonnes sugar
The central government on Thursday allowed import of 3 lakh tonnes of raw sugar at the concessional duty of 25 per cent to augment domestic supplies ahead of the festive season.
New Delhi : The central government on Thursday allowed import of 3 lakh tonnes of raw sugar at the 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. But to boost domestic availability and check prices, it has allowed import of 3 lakh tonnes of raw sugar at 25 per cent duty for conversion to white sugar, a senior official said.
Sugar production in India, the world's second largest producer, 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 24-25 MT.The government had in April allowed duty-free import of 5 lakh tonnes of raw sugar to boost domestic supply.
