Monday, October 22, 2012

Govt may raise white sugar import duty to 20%
The decision is likely to be taken in 10 to 15 days, says food minister KV Thomas
I have recommended Shree Renuka Sugar Ltd (BSE Code: 532670) at Rs.34, T--Rs.37, SL--Rs.31, to the Paid Group members and also in Facebook (SumanSpeaks). The FIIs have hiked their stake in the company speaking sequentially..
New Delhi: The government may consider doubling the import duty on white sugar to 20%, food minister K.V. Thomas said on Thursday.
The minister also said the import tax on raw sugar could be abolished.
“We have different proposals on sugar,” Thomas told reporters. “One of them is to raise import duty on white sugar to 20% and scrap the duty on raw sugar.”
These could happen in 10 to 15 days, the minister said.
India, the world’s biggest producer after Brazil, imposes a 10% tax on overseas purchases of sugar.