India will import sugar for the first time in nearly a decade
- Retail sugar prices have risen nearly 40 per cent in two months, with the festival season still ahead.
- So the Centre on August 20 has allowed 10 lakh tonnes of raw sugar to come in duty free until 31 October.
- Imports normally carry a 100 per cent duty, so this is the first time in nearly a decade India has bought abroad.
- It has also told bulk users of over 10 tonnes a month to hold no more than 15 days of stock from September.
Source: reuters.com
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