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India curbs sugar exports at 10 million tonne to keep prices in check

agriculture | IST

India curbs sugar exports at 10 million tonne to keep prices in check

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"Taking into consideration unprecedented growth in exports of sugar and the need to maintain sufficient stock of sugar in the country as well as to safeguard interests of the common citizens of the country by keeping prices of sugar under check, the government of India has decided to regulate sugar exports," the department of food & public distribution said.

Sugar exporters can't ship more than 10 million tonnes until further notice. The government order is effective from June 1, 2022.
This is the latest in a series of measures taken up by the government of India to curb inflation. Consumer price inflation hit an 8-year high in April.
According to the statement, sugar mills and exporters need to take approvals in form of Export Release Orders (EROs) from the Directorate of Sugar, Department of Food and Public Distribution.
YearExports from India 
2017-186.2 lakh metric tonne
2018-1938 lakh metric tonne
2019-2059.60 lakh metric tonne
2020-2170 lakh metric tonne
2021-2290 lakh metric tonne
"Taking into consideration unprecedented growth in exports of sugar and the need to maintain sufficient stock of sugar in the country as well as to safeguard interests of the common citizens of the country by keeping prices of sugar under check, the government of India has decided to regulate sugar exports," the department of food & public distribution said.
Wholesale prices of sugar in India are range bound between Rs 3,150 - Rs 3,500 per quintal while retail prices are also within control in the range of Rs 36-44 in different parts of the country, the food ministry added.
The move is likely to affect sugar prices around the world – just as it did in the case of wheat – as India was the second-largest exporter at the end of March 2022.