Three-month extension for duty-free sugar imports

The Union government has decided to extend the duty-free imports of raw and white sugar by three months till November 30.

According to a notification, the extension given to the tax-free imports will be effective from September 1. It may be recalled that the country had earlier permitted tax-free sugar imports until August 31, following the cancellation of a 60 per cent tax reinstated on April 1.

Expectations are rife that India, which is the world’s second largest producer after Brazil, is likely to produce 26 million tonnes (mt) of sugar in 2011-12 (October-September) against a government estimate of 24.2 mt for the year.

Source : Exim News Service - NEW DELHI, Sept. 11