Officials are considering reducing or removing the current 100% import duty on sugar to boost domestic supply and curb prices ahead of the festival season. The proposal highlights tightening global sugar supply: El Nifio is raising harvest concerns and has pushed New York sugar futures to near one-year highs.

2026-08-18

Officials are considering reducing or removing the current 100% import duty on sugar to boost domestic supply and curb prices ahead of the festival season. The proposal highlights tightening global sugar supply: El Nifio is raising harvest concerns and has pushed New York sugar futures to near one-year highs.