Govt will put export restrictions on sugar from June 1

To guarantee domestic availability and price stability, the centralm government has implemented export limitations on sugar beginning June 1. The limitation was implemented "in order to ensure domestic supply and price stability of sugar," according to a notification from the Directorate General of Foreign Trade (DGFT).

Export of sugar is permitted only with specific permission from the Directorate of Sugar, Department of Food and Public Distribution (DFPD), Ministry of Consumer Affairs, Food & Public Distribution, beginning June 1, 2022, and ending October 31, 2022, or until further orders, whichever comes first, according to the notification. The Department of Food and Public Distribution (DFPD) would provide a detailed procedure for granting export permission, it added.
Under the CXL and TRQ quotas, the export restriction does not apply to the EU and the US, according to the statement.

Sugar exports after June 1 will be permitted only if the Directorate of Sugar, Department of Food and Public Distribution (DFPD), Ministry of Consumer Affairs, Food & Public Distribution, issues a particular licence.
India is the world's largest sugar producer and exporter, trailing only Brazil. Global prices have risen due to lower sugar output in Brazil and high oil prices, which stimulate mills to create more sugarcane-based ethanol.

‘Need to reduce sugar output cost to be competitive globally’

India's crude oil production declines 1 pc in April

Govt authorises duty-free import of 20 lakh MT of crude soyabean, sunflower oil for 2 fiscals

 

- Sponsored Advert -

Most Popular

- Sponsored Advert -