Breaking News

You are here » Indian-Commodity  :  Commodities  :  Sugar  :  Food Ministry proposes doubling of import duty on sugar to 100%

06-Feb2018

Food Ministry proposes doubling of import duty on sugar to 100%

The Food Ministry has proposed doubling of the import duty on sugar from 50% to 100% for which it has made a recommendation to the Finance Ministry. This step has been taken in order to curb cheaper imports, check falling wholesale prices of sweetener and ensure timely payment to cane farmers. 

In view of estimated 6 million tonnes (MT) more production in the 2017-18 season (October-September), the prices in wholesale market have fallen below the cost of production. The sugar is being sold at Rs 40-42/kg in retail market.

The sugar production estimate has been revised upward by 4% to 26.1 MT in the current 2017-18 marketing year (October-September) as against 20.3 MT in 2016 -17. The consumption is pegged at 25 MT for this year.


Related News

View all news

Food Ministry moves Cabinet note on creating sugar buffer stock, fixing minimum ex-mill price

In order to help cash-starved millers to clear their cane arrears which have surged to about Rs 22,000 crore, the Food Ministry has moved a draft Cabinet note on creating a sugar buffer stock of 3 million......

India's sugar production stood at 310.37 LT till April: ISMA

India's sugar production stood at 310.37 lakh tons (LT) in the current season till April 30, 2018. As per data compiled by Indian Sugar Mills Association (ISMA), with 130 sugar mills still operating, majorly......

CCEA approves financial assistance to sugar mills for clearing cane dues of farmers

The Cabinet Committee on Economic Affairs (CCEA) has given its approval to provide financial assistance of Rs 5.50 per quintal of cane crushed in sugar season 2017-18 to sugar mills to offset the cost......

Top News

View all news

Generic Engineering bags orders worth Rs 273.92 crore

Generic Engineering Construction & Projects has been awarded multiple orders to the tune of Rs 273.92 crore from established & reputed real estate developers and one from India's leading......

Zuari Global enters into agreement with Axis Finance to avail loan facility

Zuari Global has entered into a facility agreement with Axis Finance to avail loan facility and an overdraft facility not exceeding Rs 85 crore and an overdraft facility up to an amount not exceeding Rs......

Ravalgaon Sugar Farm to sell sugar plant

Ravalgaon Sugar Farm has executed the requisite transfer documents for transfer of its Sugar Plant and Building along with surrounding land of approximately 85,000 square meters to S. J. Sugar Distillery......