Quotes News NAV
Economy News  Detailed News Markets  >  Equity  >  Detailed News
News on Indian economy and sectors, which have impact in the market for last one week.
Your Result on : Equity   |  News | Economy News | Detailed News
Govt restricts sugar exports to 10 mln tonnes during current season
25-May-22   09:38 Hrs IST

The government has announced a curb on export of sugar beyond 10 million tonnes during this sugar season ending September. The decision came in the light of record exports of the sugar.

The government notification said that this has been done to maintain the domestic availability and price stability during the sugar season 2021-22. Export of sugar in the current sugar season is historically the highest.

As per the new guideline, sugar mills and exporters need to take approvals in form of Export Release Orders (EROs) from Directorate of Sugar, Department of Food and Public Distribution. Sugar exports have been allowed up to 31 May 2022 without any ERO or approval. For exports between 1 June 2022 and 30 October 2022, ERO will be required.

The Ministry of Consumer Affairs, Food & Public Distribution said the decision will ensure that the closing stock of sugar at the end of sugar season (30th Sept 2022) remains 60-65 lakh tonnes which is 2-3 months stocks (monthly requirement is around 24 lakh tonnes in those months) required for domestic use.

Powered by Capital Market - Live News