date:Jun 24, 2014
India will raise its import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion, the food minister said on Monday.
The climb in import duty will make overseas purchases nearly unviable for refiners in the world's biggest consumer of the sweetener, hitting shipments from suppliers such as Brazil, Thailand and Pakistan.
We have reached a consensus to raise the import duty to 40 percent, Ram Vilas Paswan said after