| Date: |
12-03-2010 |
| Subject: |
Indian mills ask for import tax on white sugar-report |
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NEW DELHI, March 12 (Reuters) - Indian sugar mills have asked the government to tax imports of white sugar, fearing cheap imports after international prices hit a 7-month low this week, the Economic Times newspaper said on Friday.
India, the world's top consumer, allowed tax-free imports of whites in 2009 to bolster supplies.
"We have urged the government to re-impose import duty on white sugar at the earliest as our survival is at stake," the paper said, quoting an unnamed official of the Indian Sugar Mills Association, a producers' body.
Benchmark New York sugar futures SBK0 dropped 0.63 cent, down 3.10 percent on Wednesday, to finish at 19.69 cents per lb after Reuters reported that Indian importers have turned back on import deals.
Source : REUTERS
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