Govt slaps 20% export duty on sugar

Fri 17 Jun 2016, 10:09:19
Government has imposed 20 per cent customs duty on sugar exports. The duty has been imposed to boost domestic supply and check prices of the commodity. In a release the finance ministry said that the duty will be applicable on the export of raw sugar, white or refined sugar. It added that a decision to this effect has been notified by the Central Board of Excise and Customs

With retail sugar prices rising, the government has taken various steps to contain prices including withdrawal of export-linked production subsidy and imposition of stock limits on traders. India, the world's second largest sugar producer after Brazil, has exported 1.6 million tonnes of sugar so far in the 2015-16 marketing year (October-September).

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