Central government allows import of 3 lakh MT of raw sugar at 25% duty
The Dollar Business Bureau The Central government has allowed imports of 3 lakh metric tonnes of raw sugar at a concessional rate of 25% tariff duty. The sugar can be imported only through southern ports such as Tuticorin, Chennai in Tamilnadu, Karaikal in Puducherry, Mangalore in Karnataka, Kakinada, Vishakhapatnam and Gangavaram in Andhra Pradesh. According to the notification released by the DGFT No- 27/2015-2020 dated September 7, 2017, the validity of the tariff duty of 25% is for 60 days ie until the 1st week of November. The move to allow the imports of raw sugar by the government comes after sugar mills in Tamilnadu sought permission to import the commodity duty-free. Harvesting of sugar in the state has come down drastically due to ...
Indian mills sign sugar export agreement
Indian sugar mills want to reach at least 3.2 million tonnes in terms of exporting but will be at 2 million tonnesin the current period The Dollar Business Bureau Indian sugar mills are concentrating on the export of white sugar to Myanmar due to a strong demand. Fueled bya recent hike in global prices of sugar, Indian sugar mills based out of Maharashtra have inked high volume export deals this week, the first in nearly two months. The deals are seen as a major shot in the arm for Indias beleaguered sugar exports sector that has of late, witnessed a not so promising performance vis a vis other world players. What is worth noting is that export prices for sugar in world markets are ...
Govt asks sugar mills to export 4 mn tonnes by Sept 2016
The Dollar Business Bureau In an effort to improve liquidity of sugar producers and clear the surplus stock of the sweetener, the government has fixed the export target of 4 million tonnes for the next sugar season beginning October. “Minimum Indicative Export Quotas (MIEQ) are being specified for 2015-16 sugar season commencing from October 1, 2015. Export quotas of 40 lakh tonnes of all grades of sugar ; namely raw, plantation white as well as refined, have been prorated amongst sugar factories, by taking into account their average production of three years including the current (estimated/provisional) and last two sugar seasons,” Food Ministry said in a circular issued on Friday. New factories starting production for the first time during 2015-16 sugar seasons ...
Nothing sweet about governments support to sugar industry
Sai Nikesh | The Dollar Business Amidst surplus stocks, Indian sugar farmers started gearing up for the next season and Indian sugar industry is likely to witness further rise in exports in the coming season. Shipments are expected to reach 2 million Metric Tonnes (MT) during the 12 month-period starting from October 1 and the government has subsidised exports, keeping in view, the continuous decline in sugar prices since 2009. "However, this is not enough to meet real requirements of the domestic industry, which has been facing lot of issues due to piled-up stocks," says Sanjeev Babar, MD, Maharashtra State Co-Operative Sugar Factories Federation Ltd. Speaking to The Dollar Business, Sanjeev Babar raised various issues concerning domestic sugar industry, highlighting a ...
Union cabinet gives its nod for hike in import duty on sugar to 40%
The Dollar Business Bureau The Union Cabinet, chaired by the Prime Minister of India, on Wednesday, gave its nod for import duty hike on sugar from the current 25% to 40%. This move by the government comes a day after the government’s decision to ease norms for the export of sugar to the United States and the European Union. According to an official release, the government’s move to increase import duty on sugar is in view that it would prevent any imports in case of depreciation in the international prices of sugar. The government has further decided for the withdrawal of the ‘Duty Free Import Authorization (DFIA)’ scheme for sugar. A scheme under which the exporters would import duty-free, permissible ...
