Sugar stocks surge government is likely to allow import 3 lakh tonnes raw sugar at 25-30% duty.

The government is likely to allow import of 300,000 tonnes of raw sugar at 25-30 per cent import duty. A notification on the matter is likely by Wednesday. Currently, sugar attracts an import duty of 50 per cent, making imports commercially unviable. The government is likely to soon take a decision on import of sugar to augment domestic supplies, as stocks are expected to fall to critically low levels. The imports then were also subject to zonal quantity restrictions. The government had allowed import of 300,000 tonnes duty-free raw sugar in the south zone via Tuticorin, Chennai, Mangaluru, and Kakinada ports, 150,000 tonnes in the west zone via Kandla and Mumbai ports and 50,000 tonnes in the east zone through Haldia and Paradeep ports. The government had later added Visakhapatnam and Gang avaram ports in Andhra Pradesh and Karaikal port in Puducherry to the list of ports where imports were allowed.