New Delhi-SANA
India announced today the restriction of the sale of sugar in the world market, days after it banned the export of wheat.
And local media quoted the Indian government as saying in a statement that it will limit sugar exports to only 10 million tons during the current marketing season, which extends until next September.
The statement added that the government asked sellers to obtain specific permission from the authorities to export sugar during the period between June 1 and October 31.
According to the statement, the government attributed these measures to its need to take measures to preserve the country's sugar stocks, after an unprecedented growth in exports during the past year and the current marketing season.
During the current marketing season, which runs from October 2021 to September 2022, Indian sugar factories have so far signed contracts to export about 9 million tons, according to government data.
The country also exported during the past 12 months seven million tons of sugar abroad, which is the highest amount of exports in recent years.
India had announced earlier this month that it would export exceptional quantities of wheat this season, but it declined and banned exports after the emergence of a crisis of fluctuation in the abundance of wheat in the local market, which resulted in a rise in prices.
India is the largest producer of sugar in the world and the second largest exporter after Brazil.
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