India Likely To Ban Sugar Export In Coming Season Due To Deficient Rain Affecting Sugarcane Crops

Sugar Export Ban: After wheat and rice, now the central government is preparing to ban the export of sugar as well. A decision can be taken to ban the export of sugar mills in the new season starting from the month of October. If this happens, this will be the first time in seven years that the export of sugar will be banned.

The lack of rain in this monsoon is expected to affect the production of sugarcane. In such a situation, the government can ban the export of sugar keeping in mind the coming festive season and the assembly elections to be held later this year and the Lok Sabha elections in 2024.

In this news of Reuters, quoting the source of the government, it was said that our first focus is to meet the requirements of sugar in the domestic market, as well as to produce ethanol from surplus sugar. He said that we do not have enough sugar for the export quota for the coming season.

India has allowed only 6.1 million tonnes of sugar exports till September 30 this year, while last season saw 11.1 million tonnes of sugar exports. If India decides to ban sugar exports, then there can be a sharp jump in the prices of sugar worldwide. New York and London benchmark prices may see a jump where sugar is already trading at multi-year highs. If this happens, a sharp jump in food inflation can be seen worldwide.

Maharashtra and Karnataka, where sugarcane is cultivated, have seen a 50 per cent deficit in rainfall during the monsoon. In these two states, 50 percent of the country’s raw sugar production is produced. Due to lack of rain, the yield will be less in this season, but in the next season, sugarcane cultivation can be affected. In the 2023-24 season, India’s sugar production is estimated to decrease by 3.3 percent to 31.7 million tonnes.

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