Sugar futures traded on a positive note over the last couple of sessions as the government announced a host of incentives to protect the domestic industry and forecast of below normal rains. However, prices corrected from higher levels on profit taking and settled 2.23% higher w-o-w.
The government has increased import duty on raw sugar to 40% from 15%. Subsidies of Rs. 3300/tn on raw sugar export has been extended till September. Ethanol blending with petrol in increased to 10% from 5%. Also, the repayment of interest free loan on excise duty has been increased to 5 years instead of 3 years.| For more details visit us at : http://capitalstroke.com/ or contact us at: 0731-3299704 |
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