LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » India News

Govt allows import of 3 lakh tonne sugar at 25% duty

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Sep 07, 2017
04:59 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

The government today allowed import of 3 lakh tonnes of raw sugar at concessional duty of 25 per cent to augment domestic supplies ahead of the festive season.

It had hiked import duty on sugar in July to 50 per cent from 40 per cent to curb dumping of the commodity in India as international prices fell.

But to boost domestic availability and check prices, it has allowed import of 3 lakh tonnes of raw sugar at 25 per cent duty for conversion to white sugar, a senior official said.

Sugar production in India, the world's second largest producer, is estimated to decline to around 21 million tonnes in 2016-17 season ending September from 25 MT in the previous year. The annual demand is 24-25 MT.

The government had in April allowed duty free import of 5 lakh tonnes of raw sugar to boost domestic supply.

Last month, the government had imposed stock limit on sugar mills for the next two months to keep prices in check during the festive season.

By the end of September, a mill cannot keep more than 21 per cent of its total sugar availability for the entire 2016- 17 marketing year and a factory cannot hold more than 8 per cent at the end of October, according to the government notification issued last month.

Sugar is selling at an average price of Rs 42 per kg in the retail market, while branded sweetener is available at Rs 50 per kg.

White sugar prices in the international market have fallen by 8 per cent since July but raw sugar prices have remained flat. The domestic wholesale price of sugar are also flat.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

WhatsApp feature: How to chat despite being blocked by friends, relatives or others

Stocks to buy with Anil Singhvi: Sanjiv Bhasin bullish on HCL Tech and ICICI Prudential Life

Three Rafale combat jets land at IAF base from France (Ld)

ZeeBiz report gets thumbs-up from govt: Scrappage policy green flagged by Modi Cabinet; Anil Singhvi decodes impact on owners, auto-makers | Explained

Tata Steel, JSW Steel, SAIL to Jindal Steel - Important trend sighted, check impact

Bitcoin slips below $30,000

Yes Bank Share price: After Q3 result, asset Quality back in focus, Elara Capital recommends Sell with a target price of Rs 6

Gold's rally to slow, not stop, as global economy recovers: Reuters poll

Sunil Kumar Bains appointed as Director Commercial of Central UP Gas Limited Kanpur

Kangana Ranaut alleges ''gandagi'' in Bollywood as she slams farmers'' stir violence

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved