India Weighs Sugar Import Duty Cut to Curb Record Local Prices
India, the world’s second-largest sugar producer, is considering cutting its import duty on the commodity to help curb domestic prices that recently climbed to a record.
India, the world's second-largest sugar producer, is contemplating a reduction in import duty on the commodity to curb soaring domestic prices that recently reached an all-time high. Officials are evaluating the possibility of lowering or eliminating the 100% tax on inbound shipments in an effort to augment local supplies, according to sources familiar with the matter, who requested anonymity due to the sensitive nature of the discussions.
The deliberations are taking place just before a seasonal spike in sugar demand during the festival season, further motivating the government to curb rising prices.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- India weighs sugar import duty cut to curb record local prices economictimes.indiatimes.com
