New Delhi: The Union government has imposed restrictions on sugar export. The new restrictions will come into effect from June 1. As per the government, the export will be capped at 10 million tonnes. This is the first restriction imposed on sugar export in six years.
The government took this decision to prevent a surge in domestic prices. The government has also asked exporters to seek its permission for any overseas shipments between June 1 and October 31.
As per data released by the Indian Sugar Mills Association, a producers’ body, the sugar mills in the country have so far signed contracts to export 9.1 million tonnes of sugar in the current 2021/22 marketing year. Till now, they have already dispatched around 8.2 million tonnes of sugar. Data released by the Union Consumer Affairs Ministry revealed that the sugar exports from India surged by 15 times in last 4 years. The sugar export in the 2021-22 is 15 times more than that registered in the 2017-18 season.
India is the world’s biggest sugar producer and the second biggest exporter behind Brazil. Countries which import bulk of sugar from India are Indonesia, Afghanistan, Sri Lanka, Bangladesh, UAE, Malaysia and African nations.