India said on May 24 that it would limit sugar exports to 10 million tons due to its export levels reaching a record high in the past few months.
India, the world’s top sugar producer and second-largest exporter after Brazil, stated that the move was necessary to maintain “domestic availability and price stability” amid tightening global supply.
The country’s Food Ministry said that it would regulate sugar exports from June 1, 2022, taking into account the “unprecedented growth in exports of sugar” and the need to maintain adequate domestic stock levels.
Sugar exporters will be required to get permission for exports between June 1 to Oct. 31. This will be the first time in six years that India has placed export curbs on sugar….