Central government removes customs duty on export of sugar
New Delhi, Mar 21 (IBNS): Ministry of Consumer Affairs, Food & Public Distribution, in a release on Wednesday, said that the Central government has decided to remove customs duty on export of sugar from its current level of 20 per cent to zero per cent.
According to the release, during the current Sugar Season 2017-18, 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, it has been decided to remove the customs duty on exports.
This will also help in maintaining demand and supply balance and thereby stabilizing domestic sugar prices, the release said.
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