New Delhi, Aug 25: The government has revised the rules for duty-free raw sugar imports under the tariff-rate quota (TRQ) scheme, allowing importers up to two months from the filing of the Bill of Entry to process the sugar into white or refined sugar and sell it in the domestic market.
The Directorate General of Foreign Trade (DGFT) has removed the earlier fixed deadline of October 31 for processing and selling the imported sugar. Under the revised rules, the entire process must be completed within a period not exceeding two months from the date of filing the Bill of Entry.
The government had on August 20 approved duty-free imports of 10 lakh tonnes of raw sugar under the TRQ scheme. The decision was taken as domestic sugar prices rose ahead of the festive season, when demand is expected to increase.
The other conditions of the earlier import notification remain unchanged.
Industry representatives said domestic sugar stocks are sufficient to meet demand and expect prices to moderate as supplies improve. Officials of the Indian Sugar and Bio-energy Manufacturers Association (ISMA) said the recent rise in prices was largely driven by market sentiment, speculative buying and short-term supply concerns rather than a structural shortage.
The revised timeline is expected to give importers greater operational flexibility while helping improve domestic sugar availability and contain price pressures during the festive season.