- These instructions will be applicable from June 1 so that government can ensure enough stock should be available to curb the increasing prices of sugar.
- However, the European Union has been exempted from these restrictions.
- Apart from that government has allowed the export of sugar up to 100 LMT (lakh metric tonnes) with a view to maintaining price stability.
- This decision is also backed by a record break in exports of sugar.
- According to DGFT this restriction with effect from 1st June 2022 till 31st October 2022.
- The government has been continuously monitoring the situation in the sugar sector, including sugar production, consumption, export as well as price trends in wholesale and retail markets all over the country.
- India is the highest producer of sugar and also the second-largest exporter of sugar.
Question:
Q.1 According to DGFT, the restrictions on the export of sugar imposed till which of the following month?a. 31st August
b. 30th September
c. 31st October
d. 31st July
