Do you want to add sugar to your stocks list?

Sugar prices edged higher at the wholesale market in the national capital on emergence of buying by stockists and bulk consumers following uptick in demand.

Marketmen said fresh buying by stockists and bulk consumers due to pick up in demand, mainly led to rise in sugar prices.

Meanwhile, the government scrapped export duty of raw and refined sugar to boost shipments as the country is all set to produce record 29.5 million tonnes of the sweetener in the current 2017-18 marketing season.

Export duty on sugar was 20 per cent.

A notification issued by the Central Board of Excise and Custom said that it has been decided to reduce export duty on raw sugar, white or refined sugar from 20 percent to Nil.

Earlier, the government had doubled import duty on sugar to 100 percent to check shipments.

Sugar output of India, the world's second largest producer, is estimated to rise sharply to 29.5 million tonnes in the 2017-18 marketing year (October-September) from 20.3 million tonnes in the previous year. So watch & catch sugar stocks at right time!

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