After wheat, Centre keeps tabs on sugar exports
Upper limit of 10MT effective from June 1 till October 31, 2022, or further order, whichever is earlier; India emerged as the world's largest sugar producer
image for illustrative purpose
New Delhi: The government on Tuesday imposed restrictions on sugar exports from June 1, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise. The latest move comes days after banning the export of wheat in order to control rising inflation and to ensure availability in the domestic market.
India's retail inflation has been above RBI's tolerance band for the fourth straight month in April, and is likely to continue in the coming months too.
The upper limit for sugar exports has been kept at 10 million tonnes (MT) for the marketing season ending October 31, the government said late on Tuesday night. Notably, India is the second largest exporter of the sweetener.
"Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said in a notification. However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ. A specified amount of sugar is exported to these regions under CLX and TRQ. 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.
