Indian Govt Extends Sugar Export Ban Beyond October 31 to Ensure Domestic Market Stability

NEW-DELHI: The Indian government has announced an extension of the ban on sugar exports, which was initially set to end on October 31, 2023. This decision is part of a strategic effort to ensure a stable and plentiful sugar supply in the domestic market, particularly during festive seasons when the demand for sugar surges. Notably, the earlier ban included restrictions on Chinese sugar exports, also up to October 31 this year.

The Directorate of Foreign Trade (DGFT) officially communicated the extension through a notification released on Wednesday. The extension applies to various forms of sugar, including raw sugar, white sugar, processed sugar, and organic sugar. The notification specified that no alterations have been made to the existing terms and conditions regarding the ban. Additionally, it emphasized that the exemption from duties, specifically the Tariff Rate Quota (T.R.Q.), will not be applicable to sugar shipments falling under the quota.

Notably, India holds a significant position in the global sugar industry, being the largest producer and the second-largest exporter of sugar. It's important to note that any exporter falling within the restricted category must obtain a license or permission from the government to export sugar. The government is actively monitoring the sugar situation across the country, encompassing aspects such as price trends, production, experimentation, export, and the wholesale and retail markets.