Govt Extends Restrictions on Sugar Exports Beyond October 31, 2023.
The restriction isn’t relevant to sugar being exported to the EU and the US
The authorities has prolonged restrictions on sugar exports past October 31, 2023, till additional orders, in keeping with a notification by the Director General of Foreign Trade (DGFT) on Wednesday.
The restriction isn’t relevant to sugar being exported to the EU and the US, in keeping with the DGFT notification.
“The Central Government, in exercise of powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, in partial modification of Notification No.40/2015-2020 dated 28th October, 2022, hereby extends the date of ‘Restriction’ on export of sugar (raw sugar, white sugar, refined sugar and organic sugar) under HS Codes 1701 14 90 and 17019990 beyond 31th October, 2023, till further orders,” the DGFT, beneath the commerce and business ministry, mentioned within the notification.
India imposed restrictions on sugar exports in June final 12 months. The transfer was primarily geared toward rising the supply of the commodity within the home market and curbing worth rises.
The authorities has been taking a number of measures to facilitate the decreasing of costs of commodities within the home markets to manage inflation fuelled by geopolitical tensions, amongst different causes.
The authorities allowed mills to export solely 6.1 million tonnes of sugar in the course of the present season ending on September 30, after letting them promote a document 11.1 million tonnes final season.
