On October 18, the government announced an extension of restrictions on sugar exports, a move aimed at ensuring ample availability of the commodity in the domestic market during the festive season. Initially imposed until October 31, these restrictions will now continue until further notice, as stated by the Directorate General of Foreign Trade (DGFT) in a recent notification.
It’s important to note that these extended restrictions do not apply to sugar exports destined for the European Union (EU) and the United States under CXL and TRQ duty concession quotas. Certain quantities of sugar are allowed to be exported to these regions under these specified quotas.
India holds the title of being the world’s leading sugar producer and the second-largest exporter. Exporters looking to export sugar, categorized as restricted, are required to obtain a license or permission from the government. The government has been closely monitoring the sugar sector, keeping a keen eye on factors such as production, consumption, exports, as well as price trends in wholesale and retail markets across the country.