Sugar Exports: Government may impose limits on sugar exports in the next season, plans to reduce prices

Posted on 18th Jun 2022 02:05 pm by rohit kumar

The government may impose a limit of 60-7 million tonnes on sugar exports in the next season, which is 10 million tonnes in the current season. This will be the second year in a row that limits will be imposed on sugar exports. The next season will be from October to September.

 

Through this, the government is planning to keep the domestic supply right and at the same time reduce the prices. India is the largest sugar-producing country in the world. According to government and industry sources, there may be a third less export in the next season as compared to the current season.

 

The limit was imposed on 24 May

 

On May 24, the government imposed limits on the export of sugar for the first time in six years. Due to record exports this year, sugar stock may come down to 65 lakh tonnes by October 1. A year ago it was 82 lakh tonnes. Indian Sugar Mills Association (ISMA) President Aditya Jhunjhunwala has appealed to the government to allow the export of at least 8 million tonnes of sugar. Because this year 36 million tonnes of sugar can be produced.

 

Exports should be accelerated in a few months

 

ISMA has said that exports should be accelerated in the first few months of the next season as the exact figure of production will be known only by April 2023. India mainly exports sugar to Indonesia, Bangladesh, Sudan, United Arab Emirates, Nepal, and China.

 

Also Read: GST Council Meeting: GST Council meeting on 28-29 June in Srinagar, a big survey on the unemployment rate

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