Government extends restrictions on sugar exports beyond Oct : The Tribune India

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Government extends restrictions on sugar exports beyond Oct

Photo for representation. File photo

Tribune News Service

New Delhi, October 18

The government on Wednesday again extended restrictions on sugar exports beyond October 31 till further orders, a move aimed at increasing the availability of the commodity in the domestic market during the festive season. Earlier, the restrictions were imposed until October 31 this year.

“Restriction on export of sugar (raw sugar, white sugar, refined sugar and organic sugar) is extended beyond October 31 till further order. Other conditions will remain unchanged,” the Directorate General of Foreign Trade (DGFT) said.

Curbs not for EU, US
Earlier, the government had restricted exports of sugar till October 31 this year
The curbs will not be applicable to sugar being exported to the EU and the US under CXL and TRQ duty concession quotas
A specified amount of sugar is exported to these regions under tariff rate quotas

However, it said these restrictions will not be applicable to sugar being exported to the EU and the US under CXL and TRQ duty concession quotas. A specified amount of sugar is exported to these regions under CXL and TRQ (tariff rate quotas).

India is the highest producer and the second-largest exporter of sugar in the world. An exporter would require a licence or permission from the government to export sugar, which is in the restricted category.

The government has been continuously monitoring the situation in the sugar sector, including production, consumption, exports, and price trends in wholesale and retail markets all over the country.

In the current 2023-24 marketing year (October-September), the Indian Sugar Mills Association (ISMA) has projected sugar production at 317 lakh tonnes after the diversion of 45 lakh tonnes for ethanol. The domestic demand is seen at 280 lakh tonnes. The opening stock will be around 55 lakh tonnes.

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Tribune News Service

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