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India Axes Sugar Import Duties

by Mary Swire, Tax-News.com, Hong Kong

06 April 2010


India will allow bulk users to import raw sugar free of duty until April 1, 2011, in order to stabilize prices. Previously the duty was set at 60%.

India is the world's second largest producer and the biggest consumer of sugar. This year it is expected to produce over 17 million tonnes of sugar against 14.7 million tonnes in the year to September 2009. However total demand is in the region of 23 million tonnes.

Bulk consumers are defined as those who consume more than 1,000 metric tons of the sweetener per month as a raw material for their production and account for 60-65% of total consumption. They include confectioners, and manufacturers of ice-cream, cola and biscuits.

Since April 2009, only refined sugar could be imported free of duty.

TAGS: India | manufacturing | import duty | trade

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