National

Govt. removes customs duty on export of sugar

NetIndian News Network

New Delhi, March 21, 2018

The Government has decided to remove customs duty on export of sugar from its current  level of 20 per cent in view of the fact that, 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 evacuating 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," an official press release said.
"This will also help in maintaining demand and supply balance and thereby stabilising the domestic sugar prices in the country," the release added.
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