Agriculture & Food

The Indian government announced on the 5th that it would adjust its sugar export policy in international trade, allowing 6 million tons of sugar to be exported according to the quota before May 31 next year.

The Ministry of Consumer Affairs, Food and Public Distribution of India announced on the same day that, in order to ensure the stability of domestic prices, the government has decided to allow the export of sugar within reasonable limits from November 1, 2022 to May 31, 2023. According to the announcement, the 6 million tons are the first batch of export quotas in this pressing season (October 2022 to September 2023), and the further distribution of export quotas will be determined according to the domestic sugar output.

The announcement said that India has now become the world's largest sugar producer and the second largest exporter of international trade.

Affected by the escalation of the conflict between Russia and Ukraine, global food prices continued to rise. In order to cope with domestic supply shortage and price rise, some major agricultural countries have successively introduced restrictions on international trade exports.

On June 1, the Indian government announced that it would impose a total export limit on its sugar in international trade, limiting the total export of international trade to 10 million tons in the 2021 to 2022 pressing season (October 2021 to September 2022).