Govt raises sugar import duty to 25% from 15%: Media Report

Posted By: Religare
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Government has raised the import duty on sugar to 25 per cent from 15 per cent, a finance ministry source said on Friday, in an attempt to support local mills struggling to make cane payments.

A rise in the duty will make imports unviable for port-based refiners despite a plunge in global prices due to ample supplies from Brazil and Thailand, said the media report.

In June, Food Minister Ram Vilas Paswan had said import duty could be raised to 40 per cent from 15 per cent if mills make clear farmers dues.

Story first published: Friday, August 22, 2014, 23:00 [IST]
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