The government extended curbs on sugar exports until October 31 next year on Wednesday, aiming to increase the supply of the commodity in the domestic market during the festive season.
Prior to that, the curbs were in effect until October 31 of this year.
In a statement, the Directorate General of Foreign Trade (DGFT) stated, “Restriction on export of sugar (raw sugar, white sugar, refined sugar, and organic sugar) is extended beyond October 31, 2023. Other conditions will remain unchanged”.
These restrictions, however, will not apply to sugar exported to the EU and the US under CXL and TRQ duty concession quotas. Under CXL and TRQ (tariff rate quotas), a certain amount of sugar is exported to these regions.
India is the world’s largest producer and the second-largest exporter of sugar. To export sugar, which is in the restricted category, an exporter would need government authorization or permission.
The government has been closely monitoring the sugar sector’s position, including production, consumption, exports, and price trends in wholesale and retail markets throughout the country.
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