Sugar Export Ban: The new sugar season is going to start from October and the Government of India can take a decision during this time to keep the sugar prices under control.
Sugar Export Ban: The Government of India may ban the export of sugar during the coming season. There may be a ban on export of sugar during the sugar season starting from October 1. Sugar prices are continuously increasing in the country and in view of this, it is expected that a notification of ban on sugar export will be issued during the first week of November.
According to whom the news has come
According to the news of Moneycontrol, on September 28, an official gave this information to the financial portal. The sugar season starts from October and ends at the end of September next year.
Government’s priority to control sugar prices
After selling a record 11 million tonnes of sugar in the year 2021-22, India imposed a ban on the export of sugar in the year 2022-23 so that the supply of sugar in the domestic market in the country remains uninterrupted and prices can be controlled.
At the beginning of the sugar year 2022-23, the central government had restricted the export of sugar to about 6 million tonnes. An official has said in the information given to Moneycontrol that the main priority of the government is to keep the prices of sugar under control and hence in view of the rising prices, further changes are being made in the quota of this export.
Sugar production has fallen in Maharashtra-Karnataka
In the country’s top sugarcane producing states like western state Maharashtra and southern Karnataka, there has been less production in the sugar season this year due to below normal rainfall.
If we look at the sugar production figures till August, this year 50 percent less production has been seen than the average production of sugar. This has happened because both the states of Maharashtra and Karnataka produce more than half of India’s total sugar output.
Improvement in monsoon conditions
However, during the monsoon season, the country has witnessed good rainfall conditions and as a result of this, the sugar production which was 10 per cent short on August 31 improved to only 5 per cent by September 25. Nevertheless, it can be assumed that the fear of decline in sugar production in the country will remain.
