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India will allow the import of refined sugar at zero duty beyond November to cool prices, as production slump in the world's largest consuming nation has doubled the rates to Rs.36 a kg in just a year, say media reports, quoting Food and Agriculture Minister Sharad Pawar.
Though he was not sure about the period of the extension, the government might allow it until either May or June.
Pawar indicated that sugar prices might fall towards the end of the festival season (September-December), once the imported raw sweetener was processed and brought to the market.
Many mills had entered into agreements to import over 40 lakh tonnes of raw sugar, it is learnt.
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