Centre imposes restrictions on sugar export
Days after banning export of wheat, government placed restrictions on export of sugar. According to the reports, the government has told traders to secure permission for overseas sale of sugar from June 1 to October 31.
The central government ban on export of sugar move primarily aims to improve the availability of the sweetener in the domestic market and check price rise.
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The Directorate General of Foreign Trade (DGFT) stated in a notification that, “Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards.”
In a statement, the government said that with a view to maintain domestic availability and price stability of sugar in the country during sugar season 2021-22 (October-September), it has been decided to regulate the sugar exports with effect from June 1.
"The government has decided to allow export of sugar up to 100 LMT (lakh metric tonnes) with a view to maintain the domestic availability and price stability during the sugar season 2021-22 (October-September)," it said.
The government also stated that sugar mills and traders who have specific permissions from the government will only be able to export sugar (including raw, refined and white sugar) till October 31 or until further orders.
Additionally, the restriction is not applicable for exports to the European Union (EU) and the United States under CXL and TRQ (Tariff-Rate Quota) quota.
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Meanwhile, India is the world’s biggest producer oof sugar and second biggest exporter after Brazil. Thus, the move by India government may have potential impact prices worldwide.
-PTC News
