India has imposed restrictions on sugar exports, days after curbing wheat exports. The new restrictions will come into effect from June 1, the government has said in a notification. The move is primarily aimed at increasing availability of the commodity in the domestic market and curbing price rise. The government has been taking several measures to facilitate lowering of prices of commodities in the domestic markets amid an unprecedented rise in inflation fuelled by geopolitical tensions among other reasons.
India Curbs Sugar Import
“Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards,” the Directorate General of Foreign Trade (DGFT) said in a notification on Tuesday, May 24. In a statement, the Centre said that it has been decided to regulate the sugar exports with effect from June 1, with a view to maintain domestic availability and price stability of the sweetener in the country during sugar season 2021-22 (October-September),
“The government has decided to allow export of sugar up to 100 LMT (lakh metric tonnes) with a view to maintain the domestic availability and price stability during the sugar season 2021-22 (October-September),” it said.
“As per the order 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 Public Distribution,” it said.
India Restricts Sugar Export: What it Means for Common People?
It must be noted that the latest decision also comes against the backdrop of record exports of sugar. In sugar seasons 2017-18, 2018-19 and 2019-20, only about 6.2 LMT, 38 LMT and 59.60 LMT of sugar was exported, the statement said. However, in the sugar season 2020-21 against a target of 60 LMT about 70 LMT have been exported. The government has expressed its concerns regarding this and said that the move to restrict sugar export was aimed at safeguarding the interests of consumers and keep the prices in check.
“Taking into consideration unprecedented growth in exports of sugar and the need to maintain sufficient stock of sugar in the country as well as to safeguard interests of the common citizens of the country by keeping prices of sugar under check, Government of India has decided to regulate sugar exports,” it said.
India has seen record inflation in the past month amid a price surge in food and oil, and the government is taking steps to control it. A few days ago, the Centre had decided to stop wheat exports, despite India being a top wheat exporter globally.
Wholesale prices of sugar in India are range bound between Rs 3,150-3,500 per quintal while retail prices are also within control in the range of Rs 36-44 per kilogram in different parts of the country, the statement said.
(With PTI inputs)
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