India Extends Curbs On Sugar Exports Till October 2023
India, the largest producer of sugar in the world, announced late on Friday that it had extended export limits for sugar by one year, to October 2023.
India imposed export restrictions till the end of this month in May to prevent a surge in domestic prices brought on by record exports.
According to government and industry officials, India is anticipated to generate a record sugar crop this year, which might allow New Delhi to permit exports of up to 8 million tonnes.
In May, the government permitted the export of 100 lakh tonnes of sugar; another 12 lakh tonnes were later permitted. With this, the total export quota for the marketing year 2021–20222 increased to 112 lakh tonnes.
In the 2020–21 marketing year, India exported 70 lakh tonnes of sugar, compared to 59 lakh tonnes in 2019–20 and 38 lakh tonnes in 2018–19. Due to a production surplus, the government must permit the export of 80 lakh tonnes of sugar for the marketing year 2022–2023. This demand was made earlier this month by the organisation representing the sugar sector, ISMA.
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