India plans to allow extra 200,000 T duty-free sugar imports

NEW DELHI: India is planning to allow additional 200,000 tonnes of duty-free sugar imports, a government source said on Tuesday, as production fell below consumption in 2016/17 marketing year ending on Sept. 30.

The world's biggest sugar consumer had earlier allowed duty-free imports of 500,000 tonnes of the sweetener.

The country's opening sugar stock for 2017/18 season starting from Oct. 1 are likely to be 4 million tonnes, down sharply from 7.7 million tonnes this year, the source, who declined to be named, said.

Separately, India is planning to raise import tax on vegetable oils like palm oil, soyoil and sunflower oil, the source added.