Govt removes Customs duty on export of Sugar

Speed Post News Network

New Delhi : During the current Sugar season 2017-18, the sugar production in the country is estimated to be substantially higher than the estimated domestic consumption. Sufficient surplus stock of sugar may be available for export.

In order to promote exports with the objective of shifting surplus stocks from the country, the Government has decided to remove customs duty on export of sugar from its current level of 20% to zero percent. This will also help in maintaining demand and supply balance and thereby stabilising the domestic sugar prices in the country, according to a PIB release.