India imposes restrictions on sugar exports to increase its availability in the domestic market and prevent price increases, writes the local edition of The Economic Times. The government has required suppliers to obtain permits to sell sugar abroad between June 1 and October 31. This applies to the export of raw, refined and white sugar, according to a notice from the General Directorate for Foreign Trade (DGFT). These restrictions will not apply to sugar supplies to the US and the European Union within the previously established quotas. India imposed restrictions on sugar exports for the first time in six years. The country is the world’s largest producer of this product and the second largest exporter after Brazil, so India’s moves will have an impact on sugar prices around the world, experts say. Earlier, India imposed a ban on the supply of wheat abroad. The actions of the country’s authorities are due to the events in Ukraine and the sanctions imposed in connection with this against Russia, which causes an increase in prices for various agricultural products and fears of a global food crisis. Source: FINMARKET.RU

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