New Delhi, May 16 (TNS): India imported 1,908 tn sugar or 1.6 percent of the country’s total import of the sweetener from Pakistan during April-May of the current financial year, Indian media quotinf commerce ministry reported on Wednesday.
“It is clarified that in 2018-19 (till May), import of sugar from Pakistan has been just 1.908 tn for a value of USD 0.657 mln. In 2017-18, there was an import of 113,110 tn for a value of USD 4.68 mln,” Indian ministry said.
The Directorate General of Foreign Trade (DGFT) — an agency under the commerce ministry, responsible for administering laws regarding foreign trade — came up with the clarification after there were news reports that India has imported 20 lakh tn of sugar from Pakistan.
However, data released by DGFT indicates that 98 percent of the inbound sugar shipment is Brazil, the world’s largest sugar producer.
The sugar industry and farmers are already in distress owing to glut in domestic and global market. As a result, prices in the domestic market have crashed.
The government has already taken measures to limit import by has doubling the duty to 100 percent and has asked mills to export 2 mln tn of sugar.
India produced 31.90 mln tn sugar and exported 1.75 mln tn in 2017-18. During April-May, the total export of the sweetener has been 240,093 tn.
Courtesy: MoneyControl
