Prices of sugar in the domestic market are likely to rise in the near term as import duty on the commodity has been hiked. In the last week of June, prices of raw sugar on the Intercontinental Exchange had slipped to a 16-month low of 12.53 cents per pound. The country sugar production is estimated to have fallen to around 20.3 million tonne in 2016-17 (Oct-Sep), sharply down from 25.1 million tonne a year ago.