India, the world’s second-largest sugar producer, is considering cutting its import duty on the commodity to help curb domestic prices that recently climbed to a record.
Officials are weighing proposals to lower or scrap the 100% tax on inbound shipments in an effort to boost local supplies, according to people familiar with the matter, who asked not to be identified because the discussions are confidential. The deliberations come just before a seasonal surge in sugar demand for the festival season, adding to the incentive to rein in rising prices.
