India to examine sugar mills' demand for raising import tax - minister

NEW DELHI (Reuters) - India will examine the demand made by local mills for raising the import tax on sugar, the food minister said on Thursday, to help curb imports and reduce domestic stocks.

India, the world's second biggest producer after Brazil, imposes a 15 percent tax on sugar imports.

"We will examine the industry's demand for raising import tax on sugar," K.V. Thomas told reporters.

In India, sugar production has surged, with 2013/14 expected to be a fourth straight year of surplus output. India's stockpiles stand at more than 8 million tonnes.

(Reporting by Mayank Bhardwaj; editing by Malini Menon)

--

Did you know that you can get stories like this on the Yahoo mail app?
Download it here.

Matches