Government Allows Duty-Free Import of 10 Lakh Tonnes of Raw Sugar Until October 31
The move aims to curb rising domestic prices as sugar costs have climbed nearly 40% in two months, according to industry data.
- On Thursday, the Directorate General of Foreign Trade authorized duty-free imports of 10 lakh tonnes of raw sugar under a Tariff Rate Quota until October 31, 2026, to stabilize domestic prices.
- Sugar prices have surged nearly 40% in two months due to supply shortages, while peak festival demand for Ganesh Chaturthi, Dussehra, and Diwali between August and November has intensified pressure ahead of the October 1 season start.
- Food Minister Pralhad Joshi announced that bulk consumers using more than 10 tonnes monthly cannot hold stock beyond 15 days of consumption, effective September 1 through November 30 for confectioners and institutional buyers.
- Millers and refiners must submit online applications between August 21 and August 28 for the TRQ Scheme, with preference given to importers committing to complete imports by October 15.
- Ashok Jain, president of the Bombay Sugar Merchants Association, said the import decision should cap the domestic rally, though industry estimates peg new season opening stocks below the estimated domestic requirement of around 50 lakh tonnes.
20 Articles
20 Articles
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Sugar prices rise to Rs 55.70 per kg as the government rejected an ethanol link and cites lower output, festive demand and hoarding. The Centre has imposed stock limits and approved duty-free imports of 1 million tonnes of raw sugar to boost availability.
To control rising sugar prices in India, the government has allowed duty-free imports of 1 million tons of sugar until October 31. Meanwhile, Pakistan's sugar industry is exploring the possibility of shipping its excess stock of more than 1.2 million tons to India, although direct trade between the two countries is currently suspended.
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Pakistan's sugar industry has urged Islamabad to examine exports to India after New Delhi allowed duty-free raw sugar imports. The possibility underscores India's price pressures and Pakistan's need to clear surplus stocks amid frozen trade ties.
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Balrampur Chini Mills (BALRAMCHIN) share price is at ₹744.10, down 3.00% intraday, as the government permits duty-free import of 1 million tonnes of raw sugar to stabilize domestic prices. Balrampur Chini Mills Stock Update: Shares Slip on Duty-Free Sugar Imports.
Govt allows duty-free import of 10 lakh tonne raw sugar
Sugar import: The Centre has allowed duty-free import of 10 lakh tonnes of raw sugar under a tariff quota until October 31 to boost supplies and curb prices. Retail sugar prices have risen 13% amid lower stocks and strong festival demand.
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