15.04.2009 - White sugar rallies as India cuts import tax

From FT: White sugar prices rallied to a seven-month high on Tuesday after India, the world’s greatest consumer, said it would allow tax-free imports of refined sugar to cover a large shortfall in its domestic production. New Delhi said over the Easter break that it would allow tax-free imports of up to 1m tonnes of white – or refined – for the next four months, scrapping a 60 per cent duty. This year, India removed the import duty on raw – or unrefined – sugar......Full Article: Source

Print