The domestic companies have demanded a 60 per cent import duty on sugar as the international price of the commodity has fallen sharply.

The sugar prices have gone down sharply by $30 within one week in the international market. This is seven month's low level.

Earlier both the intercontinental and domestic sugar price were at an unbelievable high level.

But now as the global rate has fallen, it has forced the government as well as industry to rethink about its future plan of action in relation to the consumer demand.

However, the consumer price is expected to come down later only.

Looking at the overall situation, the companies are asking for a reduction in import duties. They are asking for a 60 clamp on every import of the ready-to-eat sugar to the country so that the price levels are kept under control.

The import duty on sugar was reduced to zero during the middle of last year and extended up to December this year. India is the biggest consumer base of sugar across the world. The decline in international prices will definitely enhance the import opportunity for the country.