The Price of Sugar - Customs Duty Exemption for Sugar
SUGAR prices have reached Rs. 25 a kg and may even touch Rs. 30 soon. The government after getting permission from the Election Commission has exempted Raw sugar imported by a sugar factory or sugar refinery and refined or white sugar imported by
(i) State Trading Corporation of India Ltd (STC) upto an aggregate quantity of 2.50 lac metric tonnes;
(ii) MMTC Limited (MMTC) upto an aggregate quantity of 2.50 lac metric tonnes;
(iii) Projects & Equipment Corporation of India Ltd (PEC) upto an aggregate quantity of 2.50 lac metric tonnes; or
(iv) National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) upto an aggregate quantity of 2.50 lac metric tonnes.
This exemption is valid till 1st August, 2009.
"Although there is no shortfall of sugar, prices of sugar have been rising recently, mainly on account of a perception of shortage...The role of speculative elements and hoarders in the price rise cannot be ruled out," Chief Director (Sugar) told reporters.
Legal Corner Icon — the image was hosted by the publisher and was not captured.“The Price of Sugar” is a stunning documentary on the work of Father Hartley, a disciple of Mother Teresa. The commentary by Paul Newman is about the plight of Haitian workers who are recruited as sugar plantation workers.
They work 14 hours a day, seven days a week, earning less than USD 1 a day with minimal-to-nonexistent health care. Instead of cash, they are paid in vouchers that can be redeemed for overpriced food at company-owned stores. Since they can afford only one meal a day, most of the calories they consume come from chewing sugar cane.
Slave camps in the 21st Century? And it's all about sweet Sugar.
Will sugar have an impact in the coming elections?
Notification NO. Dated: April 17, 2009