India may increase sugar export quota by 2-4 million tons

India is likely to increase its sugar export quota by 2-4 million tons in fiscal year 2022-2023 (started in April). This was reported by the Economic Times on Wednesday, citing the Indian Sugar Mills Association (ISMA). The increase in the quota will allow India to export 8-10 million tons of sugar in the current financial year. This is less than 10.98 million tons of this product delivered abroad during the marketing year (ended in September 2022). In May, for the first time in six years, India restricted the export of sugar produced in the republic in order to maintain its availability on the domestic market, stabilize prices and fight inflationary trends. The restriction was initially valid until October 31 of the current year, and then was extended until October 2023. India is the largest producer and consumer of sugar in the world. The main ...