The Centre is likely to impose a blanket ban on sugar export in the wake of rising prices after lower-than-expected production in the 2022-23 season, which started in October, sources said.
According to the existing quota, mllers are allowed to sell about 6 million tonnes of sugar in the 2022-23 crop marketing year (October to September), as against 11 million tonnes last season. About 5.8 million tonnes have already been shipped out of the country, while the remaining is in transit.
Earlier this month, the Centre raised the quantum of sugar that mills can sell in the open market to ensure better supplies.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.