Industry Odisha Bureau, May 14: In a bid to curb domestic price hikes and ensure adequate local supply, Government of India (GoI) has imposed ban on sugar exports since yesterday till September 30 this year.
It has further been reported, “The Indian government’s shipments and consignments already in transit meant for the United States of America (USA) quota and European Union (EU) have been exempted.”
Media reports added, “The prohibition will not apply to sugar exports to the European Union and the United States under CXL and Tariff Rate Quota (TRQ) arrangements. Exports under the Advance Authorisation Scheme (AAS) will also continue under existing provisions of the Foreign Trade Policy, 2023.”
Media reports further added, “Exports may still be allowed on the basis of permissions granted by India to other countries to meet their food security requirements and based on requests from foreign governments.”
Notably, “India is the world’s largest producer and consumer of sugar, while ranks as the second-largest exporter behind Brazil. India has historically high export volumes i.e. over 100 lakh metric tonnes in recent seasons.”
