date:Aug 25, 2014
September, India is likely to import just 30,000 tonnes compared with 680,000 tonnes a year earlier, an industry official told Reuters earlier this month.
The benchmark sugar futures in India rose 1 percent after the increase in the duty, while shares of sugar makers such as Bajaj Hindusthan Ltd, Shree Renuka Sugars Ltd and Balrampur Chini Mills Ltd rose more than 4 percent.
The duty will certainly support prices, but local prices are unlikely to jump. Supplies are adequate, said Ashok Jain,