Breaking News

You are here » Indian-Commodity  :  Commodities  :  Sugar  :  Government doubles import duty on sugar to 100%

07-Feb2018

Government doubles import duty on sugar to 100%

The government has doubled import duty on sugar to 100% and raised duty on chana to 40%. The customs duty or import tax presently on sugar is 50% and that on chana (chickpeas) is 30%. This step has been taken to curb cheaper imports and ensure remunerative prices to domestic growers. The higher tax has been imposed with immediate effect and without an end date.

The sugar production estimate has been revised upward by 4% to 26.1 million tonnes (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.

The import duty on chana has been raised to 40% as government wants to contain inward shipments in view of record production of pulses to nearly 23 MT 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

Sun Pharma receives Australian TGA approval for ILUMYA

Sun Pharmaceutical Industries has received the Australian Therapeutic Goods Administration (TGA) approval for its specialty product, ILUMYA (tildrakizumab) for the treatment of adults with moderate-to-severe......

TCS features as leader in Everest Group PEAK Matrix for F&A Digital Augmentation Suite

Tata Consultancy Services (TCS) has been positioned as a leader in the Everest Group PEAK Matrix for Finance and Accounting (F&A) Digital Augmentation Suite (DAS).Cited as a strength is the company's......

Infosys enters into exclusive partnership with Trinity College

Infosys has entered into an exclusive partnership with Trinity College to create new educational programs that prepare liberal arts students and Infosys employees for the digital workplace of the future.......