World’s biggest producer of Sugar ban on exports
Team Ambitiousbaba are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “World’s biggest producer of Sugar ban on exports“
India has restricted on the exports of sugar to stop surge in local prices of sugar. In a significant move, the government directed exporters and other pertaining agencies to restrict sugar exports immediately.
As per the official reports, the central government has ordered traders to assure permission for overseas sale of sugar from June 1 to October 31.
World’s biggest producer of sugar:
India is the world’s biggest producer of sugar and the second biggest exporter after Brazil. The significant and sudden move by India might have impacted prices worldwide.
The move mainly searches to improve availability of the sweetener in the domestic market and control price rise.
Category of restriction:
The Directorate General of Foreign Trade (DGFT) has stated that export of sugar (raw, refined and white sugar) is positioned under restricted category from June 1, 2022 onwards.
In the notification, the government has settled to allow export of sugar up to 100 LMT (Lakh Metric Tonnes) with a view to hold the domestic availability and price stability during the sugar season 2021-22 (October-September).
These restrictions won’t abide to sugar being exported to the EU and the US under CXL and TRQ, the notification added.
It is significant to mention here that a specified amount of sugar is exported to these two regions under CXL and TRQ.
From last some days number of reports predicted about speculations that the Centre was preparing such a step.
It is happened for the first time in six years that India has restricted sugar exports.
Other countries restrictions:
India’s restriction is similar to the restrictions which was introduced by many other governments amid the Ukraine war that has headed towards rising food prices sharply in many parts.
Some restrictions include Malaysia’s exports block on 3.6 million chickens from June 1, Indonesia’s recent palm oil export restriction, and India’s wheat export ban. Some other nations have set quotas on grain shipments.
Question & Answer:
Q1. Which country is the biggest producer of sugar in the world?
Q2. Which nation has made some restrictions on exports of sugar to control sugar prices in domestic market?
Q3. Which country is the largest exporter of sugar in the world?
Ans. Brazil (India at no.2)
Q4. Which country blocked exports of 3.6 million chickens?
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