China slaps hefty import duties on sugar in victory for domestic industry

BEIJING, May 22 (Reuters) - China said on Monday it will put hefty penalties on sugar imports in the first ruling to come out of a months-long anti-dumping probe, a victory for domestic sugar mills after years of lobbying.

Beijing will levy an extra 45-percent duty on top of the current 50 percent duty for out-of-quota sugar imports for this fiscal year, according to a statement released by China's Commerce Ministry. The anti-dumping duty will be reduced to 40 percent in the following year and then 35 percent in the year after that. (Reporting by Josephine Mason and Dominique Patton; Editing by Richard Pullin)