September 28, 2023
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India likely to ban sugar exports in new season beginning October
Synopsis: In current sugar season 2022-23, about 45 LMT of excess sugar is being diverted to ethanol. By 2025, it is targeted to divert more than 60 LMT of excess sugar to ethanol. The Centre is likely to ban export of sugar in the upcoming season, and Chanakya learns from officials that a notification to this effect can be expected in the first week of November.
India is likely to ban sugar exports during the upcoming season, starting October 1, government officials told the media on September 28. A notification in this regard can be expected in the first week of November, they added.
After selling a record 11 million tonnes (MT) of sugar in 2021-22, India restricted the amount of exports during 2022-23 to ensure supply in domestic markets and keep a lid on prices.
“In the beginning of the 2022-23 sugar year, the government restricted sugar exports to around 6 MT. Even this quota is being eliminated with rising prices. Our main priority is to keep domestic prices low,” an official told the media agency.
Below-normal showers in the top cane-growing districts in the western state of Maharashtra and the southern state of Karnataka, both of which account for more than half of India’s total sugar output, had been as much as 50 percent below average till August this year.
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