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Sugar stocks up on import duty hike

Govt increased import duty to 50%, from existing 40%, to restrict cheap inward shipments

Press Trust of India  |  New Delhi 

Sugar stocks up on import duty hike

on Tuesday rose by up to 5.4 per cent after the increased import duty to 50 per cent, from the existing 40 per cent, to restrict cheap inward shipments and maintain domestic prices.

of climbed 5.36 per cent, Industries 4.69 per cent and Sugar 4.33 per cent on the Mills went up 3.98 per cent, and Industries 3 per cent, Mills 3 per cent and 2 per cent.

A notification issued by the department yesterday said import duty on sugar (raw sugar, refined or white sugar, raw sugar if imported by bulk consumers) has been increased from the present 40 per cent to 50 per cent "with immediate effect and without an end date".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, July 12 2017. 01:48 IST