Economy
After Wheat, India Curbs Export Of Sugar To Maintain 'Domestic Availability And Price Stability'
Raw sugar in a factory.
The government on Tuesday (24 May) imposed restrictions on sugar exports from 1 June, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise.
The move comes over a week after the Centre imposed restriction on exports of wheat to curb the rising prices of the foodgrain in the country.
'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 1 June.
"With a view to maintain the domestic availability and price stability of sugar in the country during sugar season 2021-22 (October-September), the Central Government decides to regulate the sugar exports w.e.f 1st June, 2022," the government said, adding that sugar exports upto 100 lakh metric tonne will be allowed.
The latest decision also comes against the backdrop of record exports of sugar.
In sugar seasons 2017-18, 2018-19 and 2019-20, only about 6.2 LMT, 38 LMT and 59.60 LMT of sugar was exported, the statement said.
However, in the sugar season 2020-21 against a target of 60 LMT about 70 LMT have been exported.
(With inputs from PTI)
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