Monday, March 30th, 2020

Currently import of raw sugar is fully exempt from basic customs duty

INVC,,

Delhi,,

Currently import of raw sugar is fully exempt from basic customs duty. This exemption is valid upto 31.03.2012. Major quantity of raw sugar was imported during the low production years of 2008-09 and 2009-10. As per Department of Revenue, 22.37 and 33.96 lac tons of raw sugar was imported during 2008-09 and 2009-10 sugar season, respectively. In order to check inflation in the prices of wheat, 6.75 lac tons of wheat have been allocated to States/UTs for distribution to retail consumers for the period from October, 2011 to March, 2012 under Open Market Sale Scheme (OMSS). Similarly, 9 lac tons of wheat has been allocated for tender sale to bulk consumers through FCI and sale to small/Private Traders from FCI godowns under OMSS. 20,000 tons of wheat has been allocated to NCCF & 10,000 tons of wheat has been allocated to Kendriya Bhandar for distribution to retail consumers The prices of wheat and sugar are stable in the domestic market. The market prices of essential commodities including sugar and wheat depend upon a number of factors viz., production, stock, supply, demand, export, import, market sentiments etc. It is the endeavour of Government to control the domestic prices of sugar through the policy of regulated release mechanism and also that of wheat by appropriate market intervention. This information was given by the Minister of State in the Ministry of Consumer Affairs, Food & Public Distribution, Prof. K.V. Thomas.

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