Tridge summary
India is set to increase its sugar export quota by 2-4 million tons for fiscal year 2022-2023, allowing for 8-10 million tons of sugar exports in the current financial year. This decision is based on the country's role as the world's largest sugar producer and consumer. The main importers of Indian sugar include Indonesia, Afghanistan, Sri Lanka, Bangladesh, UAE, Malaysia, and African countries. The export quota increase comes after a restriction on sugar exports was lifted in October 2023, following a domestic shortage and inflationary concerns.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
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 ...
Source: Kvedomosti
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