Govt to allow duty-free raw sugar import till March 2010
India has decided to allow millers to import raw sugar at zero duty for sale in domestic markets for another six months till March 31, 2010.
By PTI |
NEW DELHI: India has decided to allow millers to import raw sugar at zero duty for sale in domestic markets for another six months till March 31, 2010.
"Deadline for raw sugar import (under the advance licensing scheme) at zero duty will be extended till March-end next year," Food and Agriculture Minister Sharad Pawar said here today.
A notification to this effect is under way, he added. The government in February this year allowed the duty-free raw sugar import under the advance licensing scheme (ALS) till September-end this year to boost domestic availability.
Under the scheme, millers are required to export the same quantity of processed sugar at a later date.
The minister also ruled out the possibility of allowing private companies to import refined sugar at zero duty. At present, only state-owned firms like MMTC, STC and PEC have been allowed to import refined sugar up to 10 lakh tonnes at zero duty by August 1.
India's sugar production is estimated to slump to 155 lakh tonnes for this season (October-September) from about 264 lakh tonnes in the last year.
The country, which is the largest consumer of sugar in the world, needs about 225 lakh tonnes of the sweetener for its annual domestic consumption.
"Deadline for raw sugar import (under the advance licensing scheme) at zero duty will be extended till March-end next year," Food and Agriculture Minister Sharad Pawar said here today.
A notification to this effect is under way, he added. The government in February this year allowed the duty-free raw sugar import under the advance licensing scheme (ALS) till September-end this year to boost domestic availability.
Under the scheme, millers are required to export the same quantity of processed sugar at a later date.
The minister also ruled out the possibility of allowing private companies to import refined sugar at zero duty. At present, only state-owned firms like MMTC, STC and PEC have been allowed to import refined sugar up to 10 lakh tonnes at zero duty by August 1.
India's sugar production is estimated to slump to 155 lakh tonnes for this season (October-September) from about 264 lakh tonnes in the last year.
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The country, which is the largest consumer of sugar in the world, needs about 225 lakh tonnes of the sweetener for its annual domestic consumption.
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