Benchmarks Nifty24,201.65-86.0FEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return23.3 % Invest NowEnter search text:HomeETPrimeMarketsMarket DataNewsIndustrySMEPoliticsWealthMFTechAICareersOpinionNRIPanacheThe Economic Times daily newspaper is available online now. Read Today's Paper India weighs sugar import duty cut to curb record local pricesSECTIONSIndia weighs sugar import duty cut to curb record local pricesBy Pratik Parija and Shruti Srivastava, BloombergLast Updated: Aug 18,…
The Economic Times daily newspaper is available online now.
Read Today’s Paper
India weighs sugar import duty cut to curb record local prices
SECTIONS
India weighs sugar import duty cut to curb record local prices
Follow us
Font Size
AbcSmall
AbcMedium
AbcLarge
Save
Print
Synopsis
In a bid to reign in soaring domestic sugar prices, India is thinking concerning lowering its sugar import duty. This response is geared toward boosting local supply ahead of the upcoming festival demand spike. Concerns regarding El Niño and subpar monsoon rains have cast shadows over sugarcane harvests. Ex-mill sugar prices in Maharashtra have hit record highs, pushing factories to commence sugarcane crushing ahead of schedule to ramp up availability.
ET BureauIndia weighs sugar import duty cut as local prices hit record
India, the world’s second-largest sugar producer, is considering cutting its import duty on the commodity to help curb domestic costs that recently climbed to a record.
Office-holders are weighing proposals to lower or scrap the 100% tax on inbound shipments in a bid to boost local supplies, according to people familiar with the matter. This person asked not to be identified as the discussions are confidential. The deliberations come just before a seasonal surge in sugar demand for the festival season, adding to the incentive to rein in rising prices.
Additionally Read: Sugar stock scrutiny on the rise as prices hit record high
Live Events
Add Now!
India sugar import dutysugar prices IndiaIndia sugar productionsugar demand festival seasonEl Niño effect on sugarMaharashtra sugar pricessugarcane crop conditionssugar market supply strainIndia Meteorological Departmentsugarcane acreage India
(You can now subscribe to our Economic Times WhatsApp channel)
India sugar import dutysugar prices IndiaIndia sugar productionsugar demand festival seasonEl Niño effect on sugarMaharashtra sugar pricessugarcane crop conditionssugar market supply strainIndia Meteorological Departmentsugarcane acreage India
Power shift, a déjà vu: Air India could be new CEO’s toughest flight yet
The Nifty doesn’t predict India. It records it
ET Prime special series: Bigger or Better? Bharat Electronics’ 2013 to 2026 journey – Part 2
BHUBANESWAR: Chief Minister Mohan Charan Majhi on Tuesday announced a Rs 1,000-crore special package for people affected by floods in several parts of Odisha.Addressing…
