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Sugar: Imports received theoretical clearances

September 9, 2017 at 7:25 AM , Rainbow Exports
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Sugar: Government sanctioned 0.3 million tonnes of sugar

The Government has stamped , could approve 3 million tonnes of sugar imports on import duty of 25 per cent to control sugar prices. On Thursday, the government has allowed import of 0.3 million tonnes of sugar on import duty of 25 per cent. The government has taken this step to ensure that sugar prices do not increase in festive seasons. On Monday, Union Minister for Food and Consumer Affairs Ram Vilas Paswan gave signals about Sugar imports. The Food Minister had said that the government can take a decision on Sugar imports soon. According to information from sources, the government can pronounce the decision on Sugar imports in this 1-2 day. Earlier, the government had decided to impose a stock limit on sugar mills to contain the prices of sugar. According to the stock limits, sugar mills can not hold more than 21 per cent of the total sugar produced in September and the sugar produced in October will not be permitted to stock more than 8 per cent.

The government has given in-principle approval to Sugar import. It will be announced soon. The government has decided to import 0.3 million tonnes of sugar. In this, the latest order will be issued in the next 1 to 2 days. A decision has been taken by the Group of Ministers on Monday late in the evening, which will allow exemption of import of mills in South India. In fact, the festive season has started, and in some areas its prices have risen sharply. Especially in the northeast, the sugar has become almost US$0.782 per kg. But in the rest of the country, it is selling around US$0.7031 per kg. Let us tell you that the new season of Sugar will also start from next month and there is also the pressure to start crushing on mills soon.

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