Government Likely To Raise Sugar Import Tax To 50%: Report

New Delhi: India, the world's biggest sugar consumer, is likely to raise import duty on the sweetener to 50 percent from 40 percent in an attempt to restrict cheaper flows of the commodity from overseas, a government official said on Friday. Lower imports by India could put pressure on global prices, but will support local prices that have come under pressure in the last few weeks due to expectations of imports. "There have been so...