India restricts sugar exports from June 1 to curb the domestic price rise
In a significant move, the government placed restrictions on sugar exports on May 25 to prevent a surge in local prices
In a significant move, the government placed restrictions on sugar exports on May 25 to prevent a surge in local prices. The Government has imposed restrictions on up to 100 lakhs metric tonnes (LMT) from June 1, 2022, to maintain domestic availability and price stability during the sugar season 2021-22.
India is the biggest producer of sugar in the world and the second-largest exporter after Brazil. Despite that why there is a shortage of sugar in the world?
Due to the inadequate production of sugarcane crops in Brazil, the world markets are looking toward India, but India has to ensure domestic availability of Sugar during October-November as consumption increases in the festive season. However, the export of the sugar will be allowed with specific permission from the Directorate of Sugar under the Department of Food and Public Distribution.