Govt to hike import duty on sugar; prices may go up

In a move that could lead to rise in the price of sugar, the government today decided to hike the import duty on it and to provide an additional interest- free loan of upto Rs 4,400 crore to pay dues to cane growers.

At a high-level meeting convened by Food Minister Ram Vilas Paswan, it was decided that the import duty will be raised to 40 per cent from 15 per cent.

As per experts, domestic sugar prices may increase by a couple of rupees due to hike in import duty.

Besides, government will extend sugar export subsidy of Rs 3,300 per tonne till September this year.

(Agency)

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