| Date: |
27-04-2010 |
| Subject: |
India to consider tax on sugar imports - report |
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NEW DELHI, April 27 (Reuters) - India will consider re-imposing duty on sugar imports after the current parliament session concludes on May 7, to check a sharp fall in domestic prices, the Financial Express newspaper reported on Tuesday.
Sugar prices in India, the world's top consumer and the biggest producer behind Brazil, has dropped by a third since early this year as production improved in key producing states of Maharashtra and Uttar Pradesh.
"We will review sugar production and consider imposing duty on sugar import after parliament session," the paper quoted farm minister Sharad Pawar as saying.
Last month, the industry had demanded that duty be imposed on sugar imports as falling prices hit their profit margins.
India could slap an import tax on sugar before the start of its 2010/11 season in October, to protect farmers and millers from a flood of foreign supplies as global prices crash and the rupee hovers at a 19-month peak.
Source : REUTERS
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