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Duty charge removed for import of 500,000 tonnes of raw sugar by India

raw sugarFor meeting the sugar demand of the country, India has started the duty-free imports of 500000 tonnes of raw sugar. In the world, India is the highest sugar consuming country for the first time in a period of seven years, where it is less than the demand in the country has seen the production output falling to a level. Due to drought conditions, the sugar production of the nation has lowered.

Till June 12, 2017, the sugar imports of the country will attract zero duty. to hardening of the international prices, these imports are expected to lead as till last year was exporting sugar but this year has joined the importers.

The annual sugar demand of the country was about 25 million tonnes last year as per the Indian Sugar Mills Association (ISMA), whereas in the sugar year 2016-17 (started on October 16) the sugar output is expected to fall to levels of 20.3 million tonnes.