The government on Wednesday again extended restrictions on sugar exports beyond October 31 next year, a move aimed at increasing the availability of the commodity in the domestic market during the festive season.
Earlier, the restrictions were imposed until October 31 of this year.
“Restriction on export of sugar (raw sugar, white sugar, refined sugar, and organic sugar) is extended beyond October 31, 2023. Other conditions will remain unchanged, the directorate general of foreign trade (DGFT) said in a notification.
However, it said these restrictions will not be applicable to sugar being exported to the EU and the US under CXL and TRQ duty concession quotas. A specified amount of sugar is exported to these regions under CXL and TRQ (tariff rate quotas).
India is the highest producer and the second-largest exporter of sugar in the world. An exporter would require a licence or permission from the government to export sugar, which is in the restricted category.
The government has been continuously monitoring the situation in the sugar sector, including production, consumption, exports, and price trends in wholesale and retail markets all over the country.
First Published: Oct 18 2023 | 11:58 AM IST