SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 25 May, 2022  

Sugarcane.9.Thmb.jpg Centre puts limit on sugar exports

Sugarcane.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 25 May, 2022
The Centre has placed a cap on the export of sugar under the "restricted" category which will be effective from June 1.

The latest move comes days after banning the export of wheat in order to control rising inflation and to ensure availability in the domestic market.

India's retail inflation has been above RBI's tolerance band for the fourth straight month in April, and is likely to continue in the coming months too.

The upper limit for sugar exports has been kept at 10 million tonnes for the marketing season ending October 31, the government said late on Tuesday night.

Notably, India is the second largest exporter of the sweetener.

Besides, on Tuesday the Centre allowed the import of a quantity of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil per year for a period of two years at zero customs duty and Agricultural Infrastructure and Development Cess.

It is important to note here that India fulfills a major portion of its edible oil requirements through imports.

The ongoing war in Ukraine has led to a short supply of sunflower oil as both the countries involved in the war are major producers of sunflower oil.

Further, during the weekend the government reduced excise duties on petrol and diesel, reduced import duties on some raw materials needed for steel production and announced subsidies for Ujjwala gas beneficiaries.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter