India Cabinet Will Extend the Time Limit of Duty Free on Import Raw Sugar

According to Dow Jones news, two dealers in sugar industry said that India Federation Cabinet will agree to extend the time limit of duty free on imported raw sugar to March 31, 2010.

In early 2009, India Federation Cabinet allowed company to import raw sugar for duty free for the purpose of reviving the poor supply.

As the largest sugar consumption country in the world, India's sugar output will declines 26.3 million tons to 15 million tons year-on-year resulted from its plan of terminate the sugar production in September 2009. The annual sugar consumption in the whole country reaches 22 million tons.

The Federation Cabinet predicted that the total volume of saw sugar imported from Brazil, Thailand and Burma will reach 3 million tons, and the storage after transit will meet the demand of poor supply.