Government allows duty-free imports of 1 million metric tons of raw sugar
The government has allowed duty-free imports of 1 million tonnes of raw sugar until October 31, 2026, under a tariff rate quota scheme. The move aims to boost supplies and curb rising domestic sugar prices amid tightening stocks.
Government has allowed duty-free imports of 1 million metric tons of raw sugar. The notification from Commerce Ministry said that the imports will take place till October 31.
The notification said that Advance Authorisations already issued under SION E52 are given a one-time option for conversion from the Advance Authorisation Scheme to the TRQ Scheme in respect of the quantity of Raw Sugar actually imported under such Advance Authorisations up to the date of this Notification.
This will include refined sugar, already produced and to be produced out the imported raw sugar available under the Advance Authorisation.
The conversion is subject to payment of the exempted GST availed at the time of import, condition that the refined sugar manufactured out of the imported Raw Sugar shall be sold in the domestic market by 31.10.2026 and such other conditions as may be prescribed.
The DGFT shall specify the procedure for administering the TRQ and the one-time conversion from the Advance Authorisation Scheme to the TRQ Scheme through a Public Notice.
Domestic sugar prices have been inching higher on account of tightening sugar stocks and weather worries.
The Government had implemented a slew of measures like stock-holding limit on bulk consumers, dealers etc, but the prices have been moving upwards.
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Source : ChiniMandi
