India has extended restrictions for sugar export by one year through October 2023, the government said in a notification late on Friday. In May, India, the world’s biggest sugar producer, restricted exports through the end of October 22 to contain a rise in domestic prices following records exports.
India is expected to produce a record sugar crop this year, which could allow New Delhi to allow exports of up to 8 million tonnes, a government and industry official said this month.
The government had allowed exports of 100 lakh tonnes of sugar in May, but later allowed another 12 lakh tonnes. This took the total export quota for 2021-22 marketing year to 112 lakh tonne.
India’s sugar exports stood at 70 lakh tonne in 2020-21 marketing year, 59 lakh tonne in 2019-20 and 38 lakh tonne in 2018-19. Earlier this month, sugar industry body ISMA had demanded that the government allow exports of 80 lakh tonnes of sugar for 2022-23 marketing year in view of surplus production.
READ | India, extends curbs, sugar exports, October 2023, restrictions on sugar exports
