India Sugar prices down as govt allows import.

Prices of sugar were down in key wholesale markets across the country after the Centre allowed imports of the commodity. The Centre has allowed import of 300,000 tonnes raw sugar at a basic Customs duty of 25 per cent under the tariff rate quota for 60 days. The import of 300,000 tonnes sugar has been allowed through the ports of Tuticorin and Chennai in Tamil Nadu, Karaikal in Puducherry, Mangalore in Karnataka, and Kakinada, Visakhapatnam and Gangavaram in Andhra Pradesh. This season, average sugar prices in southern India have been ₹150-200 per 100 kg higher than those in the north due to this fall in output. Since the import has been allowed under the tariff rate quota, millers and refiners have to convert the imported raw sugar into refined or white sugar within 30 days from the date of bill of entry.