Sugar export ban extended by government till October 31 next year
In May this year, the government had banned sugar exports with effect from June 1 till October 31, 2022 after the prices had surged exponentially
The Centre has extended the ban on sugar exports by a year till October 31, 2023 to ensure a check on the domestic prices and its availability in the country.
The move is being seen as a step towards curbing rising food inflation.
In May this year, the government had banned sugar exports with effect from June 1 till October 31, 2022 after the prices had surged exponentially.
"Restriction on export of sugar (raw, refined, and white sugar) is extended beyond October 31, 2022 till October 31, 2023, or until further orders, whichever is earlier. Other conditions will remain unchanged," the Directorate General of Foreign Trade (DGFT) said in a notification dated October 28.
However, the restrictions won't apply on sugar being exported to the EU and the US under CXL and TRQ duty concession quotas, the notification said.
A specified amount of sugar is exported to these regions under CXL and TRQ (tariff rate quota).
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
12:16 PM IST