The government may soon issue a notification banning the export of sugar. Image Credit source: Representative Photo
This year the production of sugar in the country is likely to be less than last year. In such a situation, the central government can ban its export. General elections are to be held next year in 2024, so the government will try to keep inflation under control, because inflation is already high.
Sugar production is expected to be 327 lakh tonnes in the current 2022-23 sugar season year (October-September). Whereas in the same period last year, the production of sugar was 359 lakh tonnes.
recommendation of the committee of ministers
The Indian Express has reported quoting sources that the government had formed a committee of ministers in this matter. The committee has suggested stopping the export dispatch of sugar mills with ‘immediate effect’.
Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal were included in this committee of ministers. Piyush Goyal is currently in charge of the Ministry of Consumer Affairs, Food and Supplies. The latest meeting of the committee was held on 27 April.
Notification will be released soon
The government may soon issue a notification banning the export of sugar. The source informed that there is sufficient stock of sugar in the country to meet the domestic demand. But keeping in mind the assembly elections of many states and the Lok Sabha elections, the government does not want to take any chance.
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This year the demand of sugar in the country is estimated to be 275 lakh tonnes. While the production of sugar is expected to be much higher at 327 lakh tonnes. At present, the retail price of sugar in the country remains around Rs 42.24 per kg. While a year ago its price was up to Rs 41.31 per kg.