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India to explore hike in sugar import tax: Ram Vilas Paswan

LiveMint logoLiveMint 05-06-2014 Reuters

New Delhi: India will examine hike in import tax on sugar to support local prices and help mills clear dues to cane growers, food minister Ram Vilas Paswan said on Thursday.

“We have to keep farmers’ interest in mind and have to ensure that sugar mills are in good financial health to clear Rs11,000 crore arrears to cane growers,” he said after a meeting with some of his cabinet colleagues. India, the world’s second-biggest producer after Brazil, imposes a 15% tax on sugar imports.

Local mills have been demanding raising the duty to as much as 40% to help lift prices, which have been pressured by huge stocks.

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