Food ministry asks finance ministry to raise import duty on sugar.

Food ministry has sent a proposal to the revenue department of the finance ministry to raise import duty on sugar. Food ministry has sent a letter to the revenue secretary in this regard (hike in import duty). However, we have not given a quantum as to whether it should be raised to 50% or 60%. sugar mills of the country had urged the government to raise the import duty on sugar to 60% as low global prices had made imports viable even at the existing 40% duty, which would lead to a rise in supplies in the country.