Sugar Export Ban Extended: The sugar export ban has been extended by one year, with existing restrictions now in effect until October 31, 2023.

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According to information published by the DGFT, this restriction will not apply to exports to the US and the European Union under the tariff quota.

Sugar export ban extended: The central government extended the sugar export ban for one year. The ban on sugar exports has been extended until October 31, 2023, according to a government notice. India is the largest sugar producing country in the world. Speaking of exports, India is the second largest exporter of sugar in the world after Brazil.

Along with pension and tips, insurance up to 7 lakhs is available at EPFO, know the rules and benefits associated with it.

The ban has been in effect since June.

In order to control the rise in sugar prices in the country’s market, the central government banned the export of sugar from June 1 to October 31, 2022. This export ban was supposed to end on October 31st and has now been extended for a year. According to a notice issued by the DGFT, this restriction will not apply to exports to the US and the European Union under the tariff quota.

The country’s foreign exchange reserves are at a 2-year low, the reserve remained at $524.52 billion.

India is the second largest exporter of sugar in the world

Sugar is exported on a large scale from India to many countries including Bangladesh, Indonesia, Malaysia and Dubai. Last year, India exported sugar at a record level. Last year, the government set an export limit of 60 lakhs, while 70 lakhs were exported. About 82 LMT of sugar were exported this year.

The country is expected to have a record production of sugar cane this year. It is estimated that 27.5 million tons of sugar will be consumed in the country this season. The time from October to September is considered the sugar season in the country.



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