India has no plan at present to raise import tax on sugar as the Govt doesn’t see prospects of imports from Pakistan as of now, as per report. Although sugar availability of this year remains as tight as last year, India will have sufficient sugar to meet domestic demand without overseas purchases.
The govt has pegged total sugar output at 24.9 MT in the whole 2017-18 season, as against 20.2 MT last year. Consumption is estimated to be about 25 MT this year.
India, the world’s biggest sugar consumer, is expected to start the new marketing year on October 1, 2018 with an opening stock of four million tones (MT), the Indian Sugar Mills Association (ISMA) announced in a statement.
India’s sugar output has increased by 26 percent to 10.33 MT in the Oct – Dec period of current season in comparison with 8.19 MT in the year-ago period during 2016-17 Oct –Sept, as per data released by the ISMA.