New Delhi: The government Wednesday again extended restrictions on sugar exports beyond October 31 this year and 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 31.10.2023 till further order. Other conditions will remain unchanged,” the directorate general of foreign trade (DGFT) said in a notification.
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), 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.
The production in the 2022-23 marketing year stood at 328 lakh tonnes after the diversion of 42 lakh tonnes for ethanol.
In 2022-23, the industry exported 61 lakh tonnes of sugar, the entire quantity permitted by the food ministry. India had exported a record 112 lakh tonnes in the 2021-22 marketing year.
PTI
