MUMBAI: 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.
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.
Reuters in March reported that India was planning to curb sugar exports to keep a lid on local prices and ensure steady…
