August 22, 2014 1:40 PM

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In bid to aid industry clear farmers dues, govt ups sugar import duty

Government today hiked the import duty on raw and refined sugar from 15 per cent to 25 per cent to help the sugar industry clear cane arrears to farmers. The hike in duty is aimed at curbing import of sugar and improving the bearish sentiment in domestic market. The sugar imports have been putting pressure on domestic prices and have prevented millers from clearing cane arrears to farmers. However the move is expected to make the sweetener costlier for the common man.

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