Govt scraps export duty on sugar due to record production

Posted by Daily Shipping Times on 22-03-2018        Tweet

NEW DELHI: The Government has scrapped export duty on raw and refined sugar to boost shipments, as the Country is all set to produce record 29.5 million tonnes (MT) of the sweetener in the current 2017-18 marketing season. Export duty on sugar was 20%.

A notification issued by the Central Board of Excise and Customs said that it had been decided to reduce export duty on raw sugar, white or refined sugar from 20% to nil. Earlier, the Government had doubled import duty on sugar to 100% to check shipments. Sugar output is estimated to rise sharply to 29.5 MT in the 2017-18 marketing year (October-September) from 20.3 MT in the previous year.