The government has taken a big decision to ensure that there is no shortage of sugar during festivals and the prices do not increase too much. Now traders will be able to import 10 lakh tonnes of raw sugar from abroad without import duty till 31 December 2026. Earlier its last date was 31 October.
business desk: Sweets are sold in abundance during Diwali and other festivals. Sugar consumption also increases in households. To ensure that sugar does not become expensive at such a time, the Central Government has extended the deadline for importing raw sugar from abroad by two months. Now traders will be able to import sugar without paying import duty till 31 December 2026. The government has set a limit of 10 lakh tonnes for this. This decision has come at a time when sugar production in the country is expected to be less than earlier estimated.
Now you can order sugar till 31st December
On August 20, the government had given permission to import 10 lakh tonnes of raw sugar from abroad. At that time traders were asked to complete the imports by October 31. But not much sugar could reach the country within the stipulated time. After this, the government has extended the last date to 31 December. This change has been made in the notification of the Directorate General of Foreign Trade (DGFT) dated October 19. However, the total limit for importing sugar has been kept the same as before. An additional time of two months has been given only for imports.
Why did the government have to extend the date?
During festivals the demand for sugar is higher than on normal days. Sweet shops, confectioners and companies making food items require more sugar at this time. If sugar does not reach the market as per requirement, its prices may increase. The government wants to avoid this problem. Raw sugar coming from abroad is cleaned in mills and made suitable for use. This can help in increasing the supply of sugar in the market.
But importing sugar from abroad takes time. It takes several days to purchase, ship the goods, and reach the port. Now businessmen have got time till the end of December to do these works.
How much sugar has arrived out of 10 lakh tonnes?
According to industry data, a large part of the sugar that the government had allowed to be imported has not yet reached India. Out of the fixed quota of 10 lakh tonnes, only about 2.6 lakh tonnes of raw sugar has come into the country. That means till now only 26 percent sugar has been imported. One reason for this is said to be the high cost of sugar abroad.
If the cost of buying sugar from outside and bringing it to India is more than the market price here, then traders avoid importing it. This is the reason why purchases decreased even after imports were allowed. Now the government has extended the time, so that traders can order the remaining sugar if prices remain stable in future.
Will sugar be available cheap in shops now?
After the government's decision, a question may arise in the minds of common people whether the prices of sugar will reduce now? It is too early to say this at this time. The government has only extended the time for importing sugar from abroad. It is not necessary that this will reduce prices immediately. Sugar prices will also depend on how much goods traders import from abroad and how much is required in the market.
If enough sugar comes from outside, increasing supply may reduce price pressure. Sweet makers and common buyers can also benefit from this.
What relief will businessmen get?
From the new date, traders and refineries who import sugar will get the most facilities. They will be able to decide the purchase by looking at the prices in the international market. The government has given exemption from import duty under the fixed quota of 10 lakh tonnes. This does not mean that now any businessman can import any amount of sugar without tax. For this, fixed rules and permission are necessary. At present, the government is trying to maintain the supply of sugar in the market, so that people do not have to pay high prices during festivals.