The Government of India has recently taken a series of measures on the sugar and mustard markets to stabilize market supply and prices. The Ministry of Commerce and Industry of India issued an announcement on October 18 announcing that it will continue to extend export restrictions on sugar, including raw sugar, white sugar, refined sugar and organic sugar. This export restriction will be extended until after October 31 this year until further notice. It is worth noting that the Government of India has begun to impose total restrictions on sugar exports since June last year and has extended export restrictions for a year in October.

At the same time, the Indian government has also intervened in the hemp market. Due to the oversupply of the domestic market, the Office of the Hemp Commissioner of the Ministry of Textile recently asked textile factories to stop importing hemp raw materials and instructed hemp importers to provide daily transaction reports in a prescribed format before December. The office also asked the factory not to import TD 4 to TD 8 variants of hemp because these hemp variants have sufficient supply in the domestic market.

This series of measures reflects the Indian government’s determination to protect domestic industry and stabilize market prices.By restricting sugar exports, the government hopes to ensure domestic market supply and prevent excessive price fluctuations.At the same time, by stopping importing mustard raw materials, the government aims to ease domestic market supply pressure and stabilize mustard prices.