The world's largest exporter of sugar, India, has decided to now include sugar on it's export restrictions list.
Almost a week has past since India first banned wheat exports, the country is now banning sugar exports in view of a global food and supply chain crisis. They have allotted only 10 million tons of sugar to be deemed as exportable to other countries through September. Sugar sellers have been asked to seek special permission from the proper authorities to export between June 1 and October 31.
Source #1 CNN
Source #2 Reuters
Source #3 The Times of India
Almost a week has past since India first banned wheat exports, the country is now banning sugar exports in view of a global food and supply chain crisis. They have allotted only 10 million tons of sugar to be deemed as exportable to other countries through September. Sugar sellers have been asked to seek special permission from the proper authorities to export between June 1 and October 31.
"Our export regulation should not affect global markets... ...We continue to allow exports to vulnerable countries and neighbors," -Piyush Goyal, India Commerce Minister
Source #1 CNN
Source #2 Reuters
Source #3 The Times of India