India Business News: The Indian Sugar Mill Association (ISMA) has refuted reports that the government is about to ban the export of sugar. ISMA called it premature assumpt
India has notified the export of 5,841 tonnes of sugar to the European Union (EU) under the tariff-rate quota (TRQ) scheme for the period of October 2023 to September 2024. TRQ allows for a certain volume of exports with low tariffs, after which higher tariffs apply.
India is expected to ban mills from exporting sugar in the next season beginning October, halting shipments for the first time in seven years, as a lack of rain has cut cane yields, three government sources said.