India Extends Sugar Export Restrictions

India Extends Sugar Export Restrictions

VoM News Desk | October 18, 2023 | 03:33 PM IST | Breaking News | Follow on Google News

India Extends Sugar Export Restrictions

India Extends Sugar Export Restrictions

India has extended restrictions on the export of sugar beyond October 31, 2023, according to a notification by the Directorate General of Foreign Trade. This extension applies to raw sugar, white sugar, refined sugar, and organic sugar. However, it does not apply to sugar being exported to the EU and the US under concession and tariff rate quota (CXL and TRQ).

Background and Objectives

These export restrictions were initially imposed from June 1, 2022, to October 31, 2022, and were later extended to October 31, 2023. The primary objective of these restrictions is to stabilize domestic sugar prices.

The Directorate General of Foreign Trade will grant export permissions on a case-by-case basis, taking into account the requests and food security needs of other countries. India has allowed the export of non-basmati white rice in varying quantities to several countries, including Nepal, Cameroon, Cote d’Ivoire, Republic of Guinea, Malaysia, Philippines, Seychelles, UAE, and Singapore.

Additional Safeguards

In late August, India introduced additional safeguards by imposing a minimum floor price on basmati rice exports to prevent exports of non-basmati white rice. The central government also extended the 20% export duty on parboiled rice until March 31, 2024, to ensure adequate domestic availability and control prices.

India had previously banned the exports of broken rice in September 2022 and imposed a 20% duty on non-basmati rice exports, excluding parboiled rice. However, the ban was later lifted in November.

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