Indian Govt Extends Sugar Export Ban Beyond October 31 to Ensure Domestic Market Stability
This aimed at maintaining an adequate sugar supply in the domestic market
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This aimed at maintaining an adequate sugar supply in the domestic market
However, these restrictions will not be applicable to sugar being exported to the European Union and the US under CXL and tariff rate quota (TRQ) concessions. A specified amount of sugar is exported to these regions at lower tariffs.
India News: The government on Wednesday extended restrictions on the export of sugar beyond October 31, until further orders, to prevent any increase in domestic .
India is planning to restrict the export of organic sugar for the 2023-24 season due to record-high outward shipments. Currently, raw, white, and refined sugar are already on the restricted list until October 31, and the timeline is expected to be extended. The government is concerned about productivity and wants to add organic sugar to the restricted list. There have also been concerns about the impact of a weak monsoon on sugarcane crops.
The final decision on allowing sugar exports from India during the upcoming sugar season which starts from October 1 will be taken after mid October, said people aware of the matter.