El Nino impact: Centre considers cap on sugar exports till H1 2024 ahead of General Elections
The Centre is mulling a cap on sugar exports till at least the first half of 2024 as the government is apprehensive about the impact of El Nino weather conditions. The government is worried that El Nino could reduce rainfall and impact agricultural production.
"The weather is a big negative factor. Last year, despite good monsoon rains, sugar production fell. This year, with El Nino, we can't take the risk of allowing exports early," said a senior government official on the condition of anonymity, as per a report in Reuters. The El Nino weather pattern could usher in extreme weather conditions later this year.