After Wheat Export Ban, Govt Bans Sugar Export Till October 31

The central government has banned the export of sugar from June 1 in view of inflation.

Centre has put curbs on sugar export

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New Delhi: Amid the huge rise in inflation, the central government has taken another step to bring some relief to the people. The government has now banned the export of sugar effective from June 1. The curbs on sugar export will continue till October 31, 2022, according to ABP News source. This comes two weeks after the centre banned wheat exports after an intense heatwave hit output and domestic prices hit a record high. 

Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said in a notification.

However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ. A specified amount of sugar is exported to these regions under CLX and TRQ.

In a statement, the government said that with a view to maintain domestic availability and price stability of sugar in the country during sugar season 2021-22 (October-September), it has been decided to regulate the sugar exports with effect from June 1.

"The government has decided to allow export of sugar up to 100 LMT (lakh metric tonnes) with a view to maintain the domestic availability and price stability during the sugar season 2021-22 (October-September)," it said.

"As per the order issued by DGFT, with effect from 1st June, 2022 till 31st October, 2022, or till further order, whichever is earlier, the export of the sugar will be allowed with specific permission of the Directorate of Sugar, Department of Food and Public Distribution," it said.

Centre allows duty-free import of soyabean and sunflower oil

In a bid to douse the inflation, the Central Government on Tuesday also exempted customs duty and agriculture infrastructure development cess on 20 Lakh metric tonnes yearly import of crude soyabean and sunflower oil.

According to the Finance Ministry notification, the order will come into force on May 25, 2022, and shall cease to apply after March 31, 2024. "Central Govt. has allowed import of a quantity of 20 Lakh MT each of Crude Soyabean Oil & Crude Sunflower Oil per year for a period of 2 years at Nil rate of customs duty & Agricultural Infrastructure and Development Cess. This will provide significant relief to the consumers", the CBIC tweeted.

The announcement comes in the wake of a surge in edible oil prices in India. India is one of the world's largest vegetable oil importers and relies on imports for 60 per cent of its needs. Meanwhile, after Russia's invasion of Ukraine, edible oil prices have shot up significantly. Sunflower oil is imported into India majorly from Ukraine and Russia.