On 21 March 2018, the government issued an official order stating that the government has abolished tariffs on exporting sugar from the current 20 percent to zero percent.
The duty cut has been made to boost overseas sales, the release said. “In order to promote exports with the objective of evacuating surplus stocks from the country, the Government has decided to remove customs duty on export of sugar from its current level of 20% to zero percent,” the government release said. The latest decision will help in keeping sugar demand healthy and stabilizing prices of domestic sugar in the country.
During the current sugar season 2017-18, production in the country is estimated to be substantially higher than the estimated domestic consumption. Therefore, sufficient surplus stock may be available for export, the release added.
