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India food minister says no plan to cut sugar import tax for now
March 14, 2017 / 1:58 PM / 5 months ago

India food minister says no plan to cut sugar import tax for now

NEW DELHI, March 14 (Reuters) - India, the world's biggest sugar consumer, has no plan to cut import duty on the sweetener at least in the near term, Food Minister Ram Vilas Paswan said on Tuesday.

He said India had ample stocks of sugar and lower estimates of production provided by the trade body Indian Sugar Mills Association (ISMA) are 'misleading'.

Earlier this month the ISMA said India will produce 20.3 million tonnes of sugar in the year to September 2017, down 5 percent from the previous forecast.

Reporting by Mayank Bhardwaj

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