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India restricts sugar export, caps it at 100 LMT for next few months

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New Delhi: In view of the “unprecedented growth in exports of sugar, the Centre has decided to “regulate” its export for the next few months, capping it at 100 LMT (lakh metric tonne) over the next few months to ensure price stability in the domestic market.

The rising retail inflation has had the government worried. It had earlier prohibited wheat export citing food security risk.

The decision was taken considering the need to maintain sufficient stock of sugar in the country as well as to safeguard the interests of common citizens by keeping the prices under check, as per a release.

It further added that as per the order by the DGFT, with effect from June 1 to October 31 this year, or till further order, whichever is earlier, the export will be allowed with specific permission from the Directorate of Sugar, Department of Food & Public Distribution.

 

 

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