New Delhi, October 18 (HS): The central government has taken a big step to control the rising price of sugar during the holiday season. The government has extended the ban on the export of sugar from October 31 until further orders.
The Directorate General of Foreign Trade (DGFT), in a notification issued on Wednesday, said that the ban on the export of sugar will continue even after October 31, 2023. According to the notification, this ban will remain in force until further orders, which include all varieties of sugar. However, according to the notification, this restriction will not be applicable to sugar exported to the EU and US under the CXL and TRQ quotas as per the procedure laid down in the respective public notice.
DGFT has issued this order to continue the ban on exports due to the rising prices of sugar during the festive season. DGFT had earlier banned the export of sugar on June 1, 2022. The last time India imposed a 20 percent tax on sugar exports was in 2016 to curb foreign sales. India is the world's largest sugar producer and second-largest exporter after Brazil.
The Central Government has recently given a final warning to all the stakeholders involved in the sugar business to disclose their stocks on the website of the Food Ministry by October 17. The government had said that strict action would be taken against those who did not do so.
Hindusthan Samachar/Indrani Sarkar