The federal government has prolonged restrictions on sugar exports until October 31 subsequent yr, a transfer aimed toward growing availability of the commodity within the home market.
Earlier, the restrictions had been imposed until October 31 this yr.
“Restriction on export of sugar (uncooked, refined, and white sugar) is prolonged past October 31, 2022 until October 31, 2023, or till additional orders, whichever is earlier. Different situations will stay unchanged,” the Directorate Basic of Overseas Commerce (DGFT) mentioned in a notification dated October 28.
Nevertheless, it mentioned these restrictions is not going to be relevant on sugar being exported to the EU and the US beneath CXL and TRQ responsibility concession quotas. A specified quantity of sugar is exported to those areas beneath CXL and TRQ (tariff fee quota).
India has been the best producer and the second largest exporter of sugar on the planet within the present yr.
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