Kathmandu, May 25
India has decided to prohibit the export of sugar. With effect from June 1, India has decided to prohibit sugar exports.
According to the Economic Times, India’s Directorate General of Foreign Trade has decided to restrict the export of sugar and all of its raw materials from June 1 to October 31 (four months).
Following the degradation of the international supply chain as a result of the Russian-Ukrainian conflict, a number of nations have decided to purchase food grains in order to protect their country from the conflict’s effects. India recently decided to increase tariffs on iron ore sponge iron exports.
The export restriction imposed by India, according to business expert Ravi Shankar Saiju, will have an impact on the Nepali market. He claims that Nepal is dependent on sugar imports from India and other nations since the indigenous output is insufficient.
Nepal produced 321,000 metric tons of sugar in the current fiscal year, according to the Nepal Sugar Industry Association. No government agency, however, has information on how much was eaten. According to the customs data, 94,084 metric tons of sugar worth Rs 4.83 billion were imported into Nepal during the current fiscal year’s April/May period.
