According to the media reports, India is likely to continue with a limiting sugar export ban for the next sugar season that starts from October 2022 to ensure sufficient sugar stock available in the domestic market.
In the 2022-23 season, India can impose export of the commodity at 6 to 7 million tonnes (mt). Higher crude oil prices are encouraging Brazilian millers to divert maximum sugarcane to ethanol production and lower sugar production.
Before fixing the export quota, the government will take note of the performance of the monsoon in the country.
Recently, the global shortage of sugar has triggered the demand, therefore Indian government took a precautionary step to cap sugar export to 100 lakh metric tonnes (LMT) for the season 2021-22.