The federal government has prolonged restrictions on sugar exports until October 31 subsequent yr, a transfer geared toward rising 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 circumstances will stay unchanged,” the Directorate Common of Overseas Commerce (DGFT) stated in a notification dated October 28.
Nevertheless, it stated these restrictions is not going to be relevant on sugar being exported to the EU and the US underneath CXL and TRQ obligation concession quotas. A specified quantity of sugar is exported to those areas underneath CXL and TRQ (tariff price quota).
India has been the best producer and the second largest exporter of sugar on the earth within the present yr.
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