Govt caps sugar export, steps in to cool edible oil prices

In yet another bid to cool down prices, the government on Tuesday capped the export of sugar and allowed duty free import of 20 lakh tonnes each of crude soyabean and crude sunflower oil per annum during the current and next financial years. While the import duty changes are likely to bring more respite to consumers after Indonesia resumed the export of palm oil, the move on sugar is aimed at ensuring enough stock till the end of current sugar season in September and to meet the requirement till December.