However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ
India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices, potentially capping this season's exports at 10 million tonnes
The Centre has allowed an additional 2,051 metric tonnes of raw sugar to be exported to the US under the Tariff Rate Quota (TRQ) for the US fiscal year 2022.
Indian Sugar Mills Association (ISMA), in a statement, said the country's sugar output has risen to 34.23 mn tonnes till April of the current marketing year, from 30 million tonnes in year-ago period
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India said on Wednesday that its approach to the Ukraine crisis remains to promote dialogue to end the conflict and mitigate economic distress for itself and for the world
Maharashtra, Uttar Pradesh and Karnataka are the top three sugar producing states in the country
Govt wants to ensure ample supply during festive season, say sources; sugar companies' stocks slide
India is considering restrictions on sugar exports for the first time in six years and may cap exports at around 8 million tonnes in an effort to prevent domestic prices surging
Sugar exports have jumped over 2.5 fold between October 2021 and February this year to 47 lakh tonnes on higher production and better demand of the Indian sweetener in the global market
India could export a record 7.5 million tonnes of sugar in the 2021/22 marketing year, nearly 25% more than the previous estimate, with output set to reach a record high
The country has physically exported 4.2 MT of sugar till February of the current marketing year, against the export contracts already undertaken for shipment of six million tonne: ISMA
India's sugar exports during October-December period jumped nearly four-fold to 17 lakh tonnes on higher demand from overseas, according to industry body ISMA. So far, 38-40 lakh tonnes have been contracted by mills for exports. Mills are now waiting for global prices to improve for further contracts. Sugar marketing year runs from October to September. "As per market reports and port information, about 17 lakh tonnes of sugar have been physically exported during the period October to December' 2021," ISMA said in a statement. During the same period in the previous year, about 4.5 lakh tonnes of sugar were exported. Further, ISMA said it is reported that about 7 lakh tonnes of sugar is in pipeline for export this month. "Amid news of expectedly better upcoming season 2022-23 (April March) in CS Brazil, the global price of raw sugar has fallen further and is currently reeling at an over 5-month low at around 18 cents/pound," ISMA said. According to the association, Indian mills
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The appeal was filed by India in the WTO's Appellate Body, which is the final authority on such trade disputes
WTO ruling is an opportunity to reform the sugar sector
Brazil's low crop will continue to make India one of the major suppliers of the sweetener
In its response to WTO members over the concerns, India said the support given was largely to small and marginal farmers and was in accordance with its commitments at the trade body
Sugar mills have exported 9.39 lakh tonnes of the sweetener till the first week of December during the ongoing 2021-22 marketing year that started from October 1, and are not in hurry to sell further