India notifies sugar import duty hike to 15 pct from 10 pct

NEW DELHI, July 9. - India issued a notification onTuesday to implement a hike in import duty on sugar to 15percent from 10 percent as the world''s top sugar consumer triesto prop up local prices which are falling due to ample and cheapglobal supplies. In a meeting last week, key government ministries agreed toraise import tax on the sweetener. The duty increase could mean a halt to India''s sugarimports, which have already slowed to a trickle following asharp drop in the rupee which makes dollar-denominated worldsugar more expensive. A halt in imports would pressure globalprices further as stocks would not ease. Indian mills and traders mainly import raw sugar and sell itin the local market after refining. India has been importingsugar despite surplus local production as the commodity ischeaper in the world market due to a bumper output in Brazil.