Nepal to import 20,000 MT sugar from India ahead of festive season

Ahe of festive season, Nepal is set to import 20,000 metric tonnes (MT) of sugar from India, which meets at least 70 per cent of Himalayan country’s domestic annual demand of approximately 3,00,000 MT.

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

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

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

Sugar is available in black market in Kathmandu and prices ranges from Nepali Rupees 100 to 125 per kg, where as it costs around Rs 40 - 50 in India.