India sugar exports: Curbs on sugar exports prolonged by a yr via October 2023

India has prolonged restrictions for sugar export by one yr via October 2023, information company Reuters quoted a authorities notification as saying. India, the world’s greatest sugar producer, had restricted exports in Could via the tip of this month to comprise an increase in home costs following information exports.

India is predicted to provide document sugar crop this yr, which might permit New Delhi to permit exports of as much as 8 million tonnes, the federal government and business official mentioned this month.

India’s sugar exports rose 57 per cent to 109.8 lakh tonnes throughout 2021-22 advertising yr ended September, leading to international foreign money influx price about Rs 40,000 crore into the nation.

Sugarcane arrears to farmers stood at solely Rs 6,000 crore on the finish of 2021-22 advertising yr (October-September) as mills have already paid Rs 1.12 lakh crore to farmers out to whole payable quantity of Rs 1.18 lakh crore.

In 2021-22 advertising yr, the meals ministry mentioned that “India has emerged because the world’s largest producer and client of sugar in addition to the world’s 2nd largest exporter of sugar”.

A document of greater than 5,000 lakh tonnes sugarcane was produced within the nation throughout 2021-22, out of which about 3,574 lakh tonnes have been crushed by sugar mills to provide about 394 lakh tones of sugar (sucrose).

Out of this, 35 lakh tonnes of sugar was diverted to ethanol manufacturing and 359 lakh tonnes of sugar was produced by sugar mills.

(With inputs from PTI)

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