The government has allowed duty free import of white sugar in the country till December 31.
The step is taken amid steep rise in sugar prices which on an average have reached Rs 45 per kg across the country. The sweet commodity prices rose Rs 10 from Rs 35 per kg to Rs 45 per kg in the last fortnight only.
Union Minister of Agriculture, Sharad Pawar, said today that there would be no quantitative cap on nil duty sugar imports.
Pawar also appealed to the government of Uttar Pradesh to lift imported sugar movement curb. Around 0.9 million tonnes of imported sugar is lying at ports due to the curb.
The government also asked state governments to take actions against the hoarders of sugar under the essential commodity act.
On the stock markets, sugar stocks dipped on the annuouncement. Stocks like Dhampur Sugar and Balrampur chini were trading at 149.75, down 0.86 % and 134.50, down 1.39 %, respectively at IST 1430.
