Govt relaxes key sugar import norm amid rising retail prices
NEW DELHI, Aug. 26 -- The government has relaxed a key condition on duty-free imports of 1 million tonnes of raw sugar, giving refiners up to two months from the date of filing the bill of entry to process the shipment and sell it in the domestic market.
Experts said the move, notified by the Directorate General of Foreign Trade (DGFT) late on Monday, will boost supplies during the early months of the new sugar season and ease pressure on retail prices.
"The earlier deadline was difficult to meet, particularly for shipments that arrive towards the end of October. The relaxation will ensure that the imported sugar does not get held up because of the refining process and can reach the domestic market in the coming months," a senior official a...
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