Sri Lanka plans to export locally produced brown sugar to support sugar industry

Colombo: In a bid to boost revenue and protect local sugar factories, their employees, and sugarcane farmers, the Sri Lankan government is planning to begin exporting brown sugar produced locally, Industry and Entrepreneurship Development Minister Sunil Handunneththi announced, according to the local media in the country.

Speaking at a press conference held at the Government Information Department, the Minister explained that the move comes in response to financial challenges faced by the local sugar industry. He noted that the 18 percent VAT is charged on locally produced brown sugar as a IMF condition, whereas imported white sugar is VAT free…..| read more on ChiniMandi.com