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Oil prices in the country are skyrocketing. Prices have come down slightly with the recent decision by the Center. Consumers are also excited about the reduction in VAT in some states. Inflation also rose sharply as prices of essential commodities rose sharply in the country. Reached All Time High. The Center has banned exports to control wheat prices. The center made another key decision along the same path.
The central government has imposed a ban on sugar exports. For the first time in the last six years, the country has imposed restrictions on sugar exports in line with demand-driven reserves and price stabilization in the face of rising prices. Announced that it will not be able to export sugar beyond 100 LMT (Long Ton Measurement). This provision will apply from June 1. Differences in sugar supply internationally in the wake of the Russia-Ukraine war. This led to an increase in domestic sugar prices. Sugar will become more accessible with the center’s latest decision.
This limit imposed by the Center is valid till September 30, 2022. The country has 65-65 lmt tonnes of sugar reserves available till the season. The center says the stock will last for about 2-3 months. Requires about 24 lmt of sugar per month. Sugar consumption is high during the festive season. The crop is ready by October and November. This will help the current ban on further use.
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