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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.

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