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India extends restrictions on sugar exports till October 2023

India extends restrictions on sugar exports till October 2023

India extends restrictions on sugar exports till October 2023
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By Asmita Pant  Oct 29, 2022 12:49 PM IST (Published)

Earlier, the restrictions were imposed till October 31 this year.

In a notification dated October 28, the government announced that it has extended restrictions on sugar exports till October 31, 2023. The move is aimed at increasing availability of the commodity in the domestic market.

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Earlier, the restrictions were imposed till October 31 this year.
"Restriction on export of sugar (raw, refined, and white sugar) is extended beyond October 31, 2022 till October 31, 2023, or until further orders, whichever is earlier. Other conditions will remain unchanged," the Directorate General of Foreign Trade (DGFT) said in a notification dated October 28.
However, it was clarified that the restrictions will not be applicable on 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 quota).
In May, the country had imposed restrictions on exports till the end of October 2022 to contain a rise in domestic prices following records exports.
India is expected to produce record sugar crop this year, which could allow the country to allow exports of up to 8 million tonnes, the government and industry official said this month.
India recently emerged as the world’s largest producer and consumer of sugar and the world’s second largest exporter of sugar.
In sugar season (Oct-Sep) 2021-22, a record of more than 5,000 lakh metric tonne (LMT) of sugarcane was produced in the country out of which about 3,574 LMT of sugarcane was crushed by sugar mills to produce about 394 LMT of sugar (Sucrose).
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