According to an official statement, the federal government has decided to cap the export of sugar at 10 million metric tons (MMT) with a view to maintaining the domestic availability and price stability during the sugar season 2021-22 (October-September).
As per the order issued by the Director General of Foreign Trade (DGFT), from June 1 till Oct. 31, or till further order whichever is earlier, the export of the sugar will be allowed with specific permission of the Directorate of Sugar, Department of Food and Public Distribution.
The decision came in light of record sugar exports.
In sugar seasons 2017-18, 2018-19 and 2019-20, only about 620,000 metric tons, 3.8 MMT and 5.96 MMT of sugar was exported.
In sugar season 2020-21, against the target of 6 MMT about 7 MMT has been exported. In the current sugar season 2021-22, contracts for export of about 9 MMT have been signed, and about 8.2 MMT sugar has been dispatched from sugar mills for export.
Currently, wholesale prices of sugar in the country are between 3,150 and 3,500 Indian Rupees (40.63-45.15 U.S. dollars) per 100 kilograms, while retail prices are in the range of 36-44 Indian rupees per kilogram in different parts of the country. (1 U.S. dollar equals 77.48 Indian rupees)
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