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    Vikshita Vitthal Gujaran in News

    29-Oct-2022 01:26 PM


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    Curbs on sugar exports extended in India till Oct 2023

    India, the world's biggest sugar producer, has extended restrictions for sugar export by one year through October 2023, the government has said in a notification on Friday.
    Mills will also set aside at least 6 million tonnes of sugar as their annual carryover stocks.
    Cashing in on attractive global prices traders have already signed deals to export 400,000 tonnes of raw sugar for the 2022/23 season.
    India, which has been trying to rein in inflation from multi-year highs, recently banned wheat exports, curbed sugar exports and allowed duty-free imports of soyoil and sunflower oil.
    In the current marketing year, India has capped sugar exports at 11.2 million tonnes, to hold down domestic prices after mills sold record volumes on the global market.
    The sugar season normally starts from October to September, while the cane crushing season generally starts in October-November and continues till mid-April.

    Source - MINT