India: move to double import levy on sugar

On the back of a bumper cane crop, the food ministry has proposed the doubling of the import duty on sugar to 100 per cent to curb cheaper imports, check falling wholesale prices of the sweetener and ensure timely payment to cane farmers.

Wholesale prices have fallen below the cost of production because of an estimated 6-million-tonne additional production in the 2017-18 season (October-September). In the retail market, sugar is being sold at Rs 40-42/kg.