INDIA: Government extends raw imports through June 30
Published: 04/17/2017, 10:28:36 AM
The government has extended the deadline for import of 500,000 metric tonnes of raw sugar till June-end from the current June 12 timeline, according to the Press Trust of India newspaper.
Earlier this month, the government had allowed import at zero duty to boost domestic supply with production expected to decline sharply to 20 million tonnes in the current 2016/17 marketing year from 25 million tonnes in the previous year.
Sugar year runs from October to September.
"Based on representations received from sugar mills/trade associations, Government has extended the time line for availing TRQ benefit (duty free) of 500,000 tonnes of raw sugar import from June 12 to June 30, 2017," an official statement said.
Prospective mill/refiner can complete the import of raw sugar on or before June 30, 2017.
To facilitate the imports from logistic point of view, the government has allowed import from Vishakhapatnam (Andhra Pradesh), Gangavaram (Andhra Pradesh) and Karaikal (Puducherry) ports in the South Zone.
However, the zone-wise import quantity restrictions shall remain unchanged.
To ensure timely availability of sugar in the country and to maintain domestic price at reasonable level, the government has asked importing mills/refineries to convert raw sugar into white/refined sugar in two months from the date of bill of entry or the date of entry inwards, whichever is later.