New Delhi, August 20: Amid rising prices, the central government has authorized the import of 1 million metric tons of raw sugar at zero duty. This initiative aims to keep sugar prices under control.
According to a notification from the Ministry of Commerce, the tariff rate quota (TRQ) allows for the duty-free import of 1 million metric tons of raw sugar until October 31, 2026.
This marks the first time in a decade that India will import sugar from abroad. The decision comes ahead of the festive season when the demand for sweets peaks, significantly increasing the need for sugar.
Reports indicate that sugar prices in the country have surged by approximately 40% over the past two months, prompting India to resort to sugar imports.
Previously, the government had implemented several measures to control sugar prices. Recently, it reduced the stockholding limit for major sugar buyers and industrial consumers to just 15 days.
According to a notification from the Ministry of Consumer Affairs, Food and Public Distribution, the new order will take effect from September 1 and remain in force until November 30. The aim is to curb hoarding and maintain the supply of sugar in the market.
Under the new regulations, any industrial or institutional consumer using more than 10 metric tons of sugar per month for raw materials, production, or consumption will not be allowed to store more than their 15-day requirement.
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