NEW DELHI, May 25 (NNN-PTI) – India’s federal government, today announced regulation on exports of sugar, in a bid to maintain domestic availability and ensure price stability of sugar in the country.
According to an official statement, the federal government decided to cap the export of sugar at 10 million metric tonnes (MMT), with a view to maintaining the domestic availability and price stability during the sugar season 2021-22 (Oct-Sept).
As per the order issued by the Director General of Foreign Trade (DGFT), from June 1 till Oct 31, or till further order whichever is earlier, the export of sugar will be allowed with specific permission of the Directorate of Sugar, Department of Food and Public Distribution.
The decision came in light of record sugar exports.
In sugar seasons 2017-18, 2018-19 and 2019-20, only about 620,000 metric tonnes, 3.8 MMT and 5.96 MMT of sugar were exported.
In sugar season 2020-21, against the target of six MMT about seven MMT has been exported. In the current sugar season 2021-22, contracts for export of about nine MMT have been signed, and about 8.2 MMT sugar has been dispatched from sugar mills for export.
Currently, wholesale prices of sugar in the country are between 3,150 and 3,500 Indian Rupees (40.63-45.15 U.S. dollars) per 100 kilograms, while retail prices are in the range of 36-44 Indian rupees per kilogram, in different parts of the country. (1 U.S. dollar equals 77.48 Indian rupees)– NNN-PTI
