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Thursday, June 30, 2022

Curb on sugar exports likely- Mrit News

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It would be for the first time in six years that the Centre regulating the sugar exports

It would be for the first time in six years that the Centre regulating the sugar exports

After wheat, the Centre is likely to restrict the export of sugar to 10 million tonnes. Official sources confirmed that the Union Commerce Ministry will soon issue an order banning sugar export if it goes beyond 10 million tonnes in this season.

It would be for the first time in six years that the Centre regulating the sugar exports. The move, according to the official source, is to ensure adequate domestic supply and to control the rising prices.

According to the Indian Sugar Mills Association (ISMA), the industry has signed contracts to export over 8.5 million tonnes of sugar. Out of this, around 7.1 million tonnes of sugar have been physically exported out of the country till the end of April. In the last year, the country had exported 4.3 million lakh tonnes till April, 2021. “ISMA expects over nine million tonnes of export in the current season against 7.191 million tonnes exported in last season,” the ISMA had recently said.


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