In the current year, India has become the world's top producer and second-largest exporter of sugar.
Digital Desk: To increase the amount of sugar available on the domestic market, the government has extended export limits until October 31 of the next year.
The limitations were previously in place through October 31 of this year.
"Beyond October 31, 2022, the restriction on the export of sugar (raw, refined, and white sugar) is prolonged until October 31, 2023, or until additional instructions, whichever comes first. The other restrictions will not alter,” the Directorate General of Foreign Trade (DGFT) announced in a statement dated October 28.
However, it stated that sugar exported to the EU and US following CXL and TRQ duty concession limits will not be subject to these restrictions. Under CXL and TRQ, a specific amount of sugar is exported to these areas (tariff rate quota).
It is to be noted that in the current year, India has become the world's top producer and second-largest exporter of sugar.
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