Sugar exports exceed 10 million tonnes for the first time
According to the DGCI&S data, India had exported sugar worth $1965 million in 2019-20, which rose to $2790 million in 2020-21 and $ 4600 million in 2021-22.
India has extended the limitations on the export of sugar by one year through October 31, 2023, according to a notification by the Directorate General of Foreign Trade.
Initially, the restrictions were levied starting June 1 to October 31, 2022. However, the restriction is not applicable to the sweetener (raw, refined and white) being exported to European Union and the US under CXL and TRQ quota, the notification put out by DGFT on Friday said.
Advertisement
It added that other conditions such as mandatory permission from the relevant department for exports would remain unchanged.
While imposing the restriction in May, Sudhanshu Pandey, Secretary, of the Department of Food and Public Distribution said The idea behind the sugar export restriction — putting a cap on the export of sugar to 100 lakh metric tonnes (LMT) — was to make prices of sugar stable.
The government wants to assure enough sugar stock availability in India and the export regulation has been purely imposed to safeguard the interests of the domestic supply.
Advertisement
