Govt Hikes Customs Duty on Import of Sugar
ON 15th August 2014, Food Minister Ram Vilas Paswan said: "We are ready to raise the import duty to 40 per cent from 15 per cent, maintain export incentives for raw sugar, allow ethanol blending up to 10 per cent from the current 5 per cent but the mills have to give an assurance that they will clear the farmers' dues."
We don't know whether the Mills have given the assurance but the Finance Ministry has increased the Customs Duty on Raw Sugar, Refined or white sugar from the present 15% to 25%. This seems to be basically to curb imports as there is excess sugar production in India.
Notification No., Dated: August 21, 2014