Sugar Exports Restricted In India As Food Inflation Surges
Amid the rising inflation in food, fuel and daily use items the Indian government has decided to curb sugar exports. Read further to know the whole matter.
Recently, the Indian government has announced to curb exports of wheat, and now the exports of sugar are also curbed. As per the notification issued by the government, the curbs on sugar exports will come into effect from June 1. The main purpose behind these curbs is to raise the availability of the commodity in the Indian market and to control the inflation of food items. The current inflation is caused by various geopolitical tensions and in order to facilitate the Indian market with lower prices of items the government of India has decided to take this measure.
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The notification issued by the Indian government
In a notification issued on Tuesday, May 24, the Directorate General of Foreign Trade (DGFT) stated, "Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards."
The notification further stated, "The government has decided to allow export of sugar up to 100 LMT (lakh metric tons) with a view to maintaining the domestic availability and price stability during the sugar season 2021-22 (October-September)."
To maintain domestic availability & price stability of sugar in the country during sugar season 2021-22 (October-September), Central govt to regulate sugar exports w.e.f June 1, 2022, till further orders. Govt will allow sugar exports up to 100 LMT: Ministry of Consumer Affairs
— ANI (@ANI) May 24, 2022
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The restrictions will be in place till October
As per the Indian Sugar Mills Association, it is expected that India will produce 35 million tons of sugar this year out of which 27 million tons of sugar will be consumed in the country.
The notification by the DGFT stated, "As per the orders issued by DGFT, with effect from 1st June 2022 till 31st October 2022, or till further order, whichever is earlier, the export of the sugar will be allowed with specific permission of the Directorate of Sugar, Department of Food and Distribution."
