January 8, 2018 / 7:05 AM / a year ago

India has no plan now to raise import tax on sugar, government source says

FILE PHOTO: A worker checks the flow of sugar inside the Gandavi sugar factory, 165 km (102 miles) south of Ahmedabad, India, March 26, 2012. REUTERS/Amit Dave/File Photo

NEW DELHI (Reuters) - India has no immediate plan to raise import tax on sugar as the government does not see prospects of imports from Pakistan as of now, a senior government official said on Monday.

Though the availability of sugar this year remains as tight as last year, India will have enough sugar to meet domestic demand without overseas purchases, the official, who was not authorised to speak to the media, said.

The world’s biggest consumer is likely to start the new marketing year on Oct. 1, 2018 with an opening stock of 4 million tonnes, almost unchanged from a year ago, the Indian Sugar Mills Association (ISMA) said in a statement.

Reporting by Mayank Bhardwaj; Editing by Malini Menon

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