Centre May Scrap Sugar Import Duty to Lower Prices and Boost Supply
· Business · LiveMint, Times of India, Reuters
The Centre is considering lowering or scrapping its 100% import duty on sugar to curb rising domestic prices and boost local supplies ahead of the festive season. Ex-mill sugar prices in Maharashtra recently reached an all-time high of about ₹46 per kilo, according to the Indian Sugar and Bio-energy Manufacturers Association. Global supply strains, coupled with monsoon rainfall deficits reported by the IMD at 13% below normal, have raised harvest concerns. Factories in Uttar Pradesh and Maharashtra plan to bring forward crushing by 10 to 15 days from the usual early-November start to bolster availability.
Why it matters
Consumers and food manufacturers in India face higher costs as sugar prices hit record highs ahead of peak festive demand, prompting potential government intervention.
Read the original report — LiveMint
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