Mumbai — India, the world’s biggest sugar consumer, could soon ramp up imports of the sweetener as a sharp drop in global prices and a stronger rupee make overseas purchases viable despite stiff tariffs, industry players said. Rising demand from India, which typically churns out its own sugar to use in everything from fizzy drinks to sticky snacks, could support benchmark global prices that have been trading near 16-month lows. However, it would put pressure on Indian prices, potentially making it difficult for mills that process sugar cane to pay farmers rates stipulated by the government. "At the current (international) price level, refiners can import sugar for domestic consumption and make a profit," said Rohit Pawar, chief executive of Baramati Agro, which operates sugar mills in the western state of Maharashtra. Dealers estimate the cost of sweetener produced from raw sugar shipped in from abroad, including the 40% import duty, is about 32,000 rupees ($496) per tonne, about 8%...
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