6 million tonnes of sugar export allowed by the government till May 23

Tags: Economy/Finance

The government of India has allowed the export of 6 million tonnes of sugar till 31st May 2023 in the 2022-23 sugar season .The sugar season in India is from October to September.  In the 2021-22 sugar season the government has allowed the export of 10 million tonnes of sugar. The notification was issued by the Directorate General of Foreign Trade (DGFT) under the Union ministry of Commerce and Industry on 5 November 2022.

On 29 October 2022 the government of India had extended the ban on the export of sugar till the 2022-23 season so as to check the price of the sugar in the domestic market. Also it kept sugar in the restrictive list meaning that it can be exported only with the permission of the government of India. 

In the latest order the government has allowed the export of 6 million tonnes of sugar and has also allocated export quotas for various sugar mills.

With an expected bumper sugar production of 41 million tonnes in the current season the government has allowed the export of sugar in the current season.

India is the largest producer and consumer of sugar in the world and second largest exporter of sugar in the world after Brazil.