Food ministry proposes hike in sugar import duty to 100%


New Delhi, Feb 5: The food ministry has proposed doubling of the import duty on sugar to 100 per cent to curb cheaper imports, check falling wholesale prices of sweetener and ensure timely payment to cane farmers, sources said.
Wholesale prices have fallen below the cost of production in view of estimated 6 million tonnes more production in the 2017-18 season (October-September). In retail market, sugar is being sold at Rs 40-42/kg.