Sugar Export: Inflation rates of food items in the country are making life difficult for the common man, but the government is constantly taking such decisions in this direction, which can give you relief. Even today, such a decision has been taken to keep sugar inflation under control, which you will be happy to know.
Know what has been decided by the government
In order to maintain the availability of sugar in the domestic market, the government has extended the restrictions on its export till 31 October next year. The restrictions on sugar exports were to end on October 31 this year. But the Directorate General of Foreign Trade (DGFT) has now extended it for a year. India has been the largest producer of sugar as well as the second largest exporter in the world this year.
DGFT issued notification
Giving this information in a notification issued on Friday evening, the DGFT said, “The restrictions on the export of raw, refined and white sugar have been extended from October 31, 2022 to October 31, 2023 or till further orders.” . All other terms and conditions related to this will remain unchanged.
Here is the technical aspect of the decision
However, the government has made it clear that these restrictions will not apply to exports to the European Union (EU) and the US under CXL and TRQ duty concession quotas. In both these markets, a certain quantity of sugar is exported under the CXL and TRQ regime.
Sugar became expensive on the occasion of festivals
The festive season has recently ended in the country and during this time the demand for sweet as well as sugar has increased wildly. Therefore, there was an increase in the prices of sugar, in view of which the government has taken this decision. With the ban on export of sugar till October 31 next year, there will be no reduction in the availability of sugar in the country, which will curb its rising prices.
The government had also imposed a ban on the export of wheat
As a result of the Russo-Ukraine war, the world has seen a major change in the supply of food products, after which the demand for wheat also increased. Keeping this in mind, the central government also decided to ban the export of wheat, so that the supply of wheat in the country does not decrease and its prices can be kept under control.
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