All restrictions on Indian sugar exports were removed today, as the government permitted the trading in white sugar for the first time since 1952.
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Section 17 of the Forward Contract Regulation Act, 1952, had prohibited the futures trading in white sugar, but food and public distribution minister Shanta Kumar explained that the commodity would now be placed under section 15 of the act in order to keep the price stable and safeguard the interests of farmers, stockists and exporters.
The government expects to be left with a surplus of 101 lakh tonnes of sugar after the domestic market is served for this current sugar year. This amount can now be exported.
