India has imposed restrictions on sugar exports for the first time in six years by capping this season’s exports at 10 million tonnes, a government order said, to prevent a surge in domestic prices after mills sold a record volume on the world market.
Report informs, citing Reuters, that the government has also asked exporters to seek its permission for any overseas shipments between June 1 and Oct. 31, the order said.
India is the world’s biggest sugar producer and the second biggest exporter behind Brazil.