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HomeIndustry & UpdatesNepal to import 20000 MT sugar from India, ahead of festive season

Nepal to import 20000 MT sugar from India, ahead of festive season

NEW DELHI : Ahead of the festive season, Nepal is set to import 20,000 metric tonnes
(MT) of sugar from India, which meets at least 70% of the Himalayan country’s
domestic annual demand of approximately 3,00,000 MT.

In view of the upcoming festivals, including Vijaya Dashami and Deepawali, the
Ministry of Industry, Commerce and Supplies has asked the Finance Ministry to give
customs waiver for importing 60,000 MT of sugar to meet the local demand. The
Finance Ministry has, however, given permission to import only 20,000 MT for the
time being.

According to Finance Ministry spokesperson, Dhaniram Sharma, the Ministry has
given 50 per cent discount on customs duty, which means 15 per cent less from the
earlier imposed 30 per cent customs duty.

Two companies, Salt Trading Corporation (STC) and Food Management and Trading
Company, both would import 10,000 MT sugar each for the upcoming festival season,
according to Sharma. However, divisional manager of STC Brajesh Jha said that it had
asked the government permission to import 50,000 MT of sugar.

According to Jha, Nepal’s domestic demand for sugar stands at 3,00,000 MT and it
needs to import a huge quantity of sugar mainly from India. There are 12 sugar factories
in Nepal that produce around 1,00,000 MT of sugar.

According to an estimate, Nepal imports at least 70 per cent sugar from India. Besides,
thousands of tons of sugars are brought through illegal channel without paying
customs duty.

The above news was originally posted on news.google.com

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