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Government panicked by record exports, after wheat, now sugar exports are also banned from June 1

Jaipur : After wheat, now the Government of India has put the export of wheat from free to restricted category. As feared, the central government today imposed a ban on sugar exports to check the rise in prices at the local level.

According to the notification issued, the government has asked the traders to take prior permission for overseas sale of sugar from June 1 to October 31.

Let us tell you, according to the notification, this step is mainly to improve the availability of sugar in the domestic market and to check the rise in prices.

 As per the notification of DGFT, “Government has decided to allow export of sugar up to 100 LMT (Lakh Metric Tonnes) during the sugar season 2021-22 (October-September) with a view to maintain domestic availability and price stability. ”

As per the order issued by DGFT, export of sugar will be allowed with specific permission of Directorate of Sugar, Food Department from June 1, 2022 to October 31, 2022 or till further orders, whichever is earlier. The notification said that these restrictions will not apply to sugar being exported to the European Union and the US under CXL and TRQ.

It is worth noting here that a certain amount of sugar is exported to these two regions under CXL and TRQ.

Banned for the first time in six years

Earlier there was speculation that the Center is planning such a move. This is the first time in six years that India has restricted sugar exports. India is the largest producer of sugar in the world and the second largest exporter after Brazil.

According to experts, India’s move is likely to impact prices across the world. India’s sanctions are similar to those initiated by several other governments in the wake of the Ukraine war, which has led to a sharp rise in food prices in many parts. These include Malaysia’s ban on chicken exports from June 1, Indonesia’s recent palm oil export ban and India’s wheat export ban. Some other countries have also fixed quotas on grain shipments.

Deals of 90 MT already done in the current season

Let us tell you, the latest decision of ban on sugar export has come in the background of record export of sugar. In sugar season 2017-18, 2018-19 and 2019-20, only 6.2 LMT, 38 LMT and 59.60 LMT of sugar were exported.

However, in the sugar season 2020-21, about 70 LMT was exported against the target of 60 LMT. In the current sugar season 2021-22, contracts for export of about 90 LMT have been signed, about 82 LMT of sugar has been sent for export from sugar mills. Thus, sugar exports are historically highest in the current sugar season 2021-22.

In this way, this decision of the government will ensure that the closing stock of sugar at the end of sugar season (30 September 2022) remains 60-65 LMT which is 2-3 months stock required for domestic use (monthly requirement is around 24 LMT) ).

Let us tell you, crushing in the new season starts in the last week of October in Karnataka, in the last week of October to November in Maharashtra and November in Uttar Pradesh. So generally till November the supply of sugar is from last year’s stock.

Therefore, keeping in view the unprecedented growth in the export of sugar and the need to maintain adequate stocks of sugar in the country as well as the need to protect the interests of the common citizens of the country by keeping the sugar prices under control, India The government has decided to regulate it. Now, sugar mills and exporters will need to seek approval in the form of Export Release Order (ERO) from the Directorate of Sugar, Department of Food and Public Distribution.

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