Sugar exports cap extended
INDIA has extended curbs on sugar exports by one year until October 2023, the government said, but the world’s biggest producer of the sweetener is still expected to fix a quota for this year’s overseas sales.
India, also the world’s biggest sugar consumer, this year restricted exports through to the end of this month to contain a rise in domestic prices following record exports.
“The notification merely extends the government’s policy of keeping sugar exports in the restricted category, but this decision does not mean the government will not allow sugar exports in 20222023,” Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd, told Reuters.
The current season’s export quota could be issued next week, sources said. Reuters last month reported the government was poised to allow 5 million tonnes of sugar exports in a first tranche for the new marketing year that began on October 1.