Govt imposed export duty on sugar to check domestic price rise: Sitharaman to KNN

New Delhi, June 17 (KNN) The Government has imposed 20 per cent export duty on exports of sugar in order to make sure India has enough sugar and there is no rise in the price of sugar, Industry and Commerce Minister Niramala Sitharaman told KNN.

"To keep the domestic prices of sugar under check, the government has decided to impose export duty of 20 per cent on the export of raw sugar, white or refined sugar," said an official release.

Sitaharaman said, “We love the exports of sugar but time has come we don’t want any speculative rise in the price of sugar and ensure that there is enough sugar available for the Indian market. So the step has been taken."

India, the world's second largest sugar producer after Brazil, has exported 1.6 million tonnes of sugar so far in the 2015-16 marketing year (October-September). Further exports are unlikely to take place with this decision.

With retail sugar prices soaring to around Rs 40/kg from Rs 30/kg six months ago, the government has taken various steps to contain prices including withdrawal of export-linked production subsidy and imposition of stock limits on traders. (KNN/ AR)