New Delhi
To ensure the availability of sugar in the domestic market and maintain price stability during the upcoming festive season, the government has announced the extension of restrictions on sugar exports beyond October 31 this year. The directorate general of foreign trade (DGFT) issued a notification, stating, Restriction on export of Sugar (Raw Sugar, White Sugar, Refined Sugar, and Organic sugar) is extended beyond October 31, 2023, until further notice. Other conditions will remain unchanged. This move is driven by the desire to control food prices, especially with the recent easing of India’s retail inflation, which dropped to a three-month low of 5.02 percent in September. As assembly elections are scheduled in key states and Lok Sabha polls are on the horizon early next year, the government aims to ensure price stability. Food inflation, which holds significant weight in the overall consumer price index (CPI), declined to 6.56 percent in September from 9.94 percent in August, providing much-needed relief to consumers and aligning with the government’s efforts to keep food prices under control.
