Price of sugar to fall as govt reduces customs duty

KATHMANDU: The government has decreased the customs duty on sugar and jaggery.

The customs duty on sugar will be reduced from 40% to 30% starting in the new FY 2023/24, according to the government’s budget, which was released on Monday.

A lower price for Indian sugar to be imported into the Nepali market was made possible by the government’s decision to lower taxes. The customs duty on products like sugar, jaggery, and sugar cubes has been reduced by the government by 10%.