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May 03, 2012, 08.11 AM IST | Source: Reuters

India lifts quantitative cap on sugar exports: Govt source

India has decided not to put any quantitative restrictions on exports of sugar, but will retain the right to cap such sales at a later stage, a government source said after a meeting of key ministers called by Prime Minister Manmohan Singh on Wednesday.

India lifts quantitative cap on sugar exports: Govt source

India has decided not to put any quantitative restrictions on exports of sugar, but will retain the right to cap such sales at a later stage, a government source said after a meeting of key ministers called by Prime Minister Manmohan Singh on Wednesday.

"Sugar exports have been freed and there will not be any quantitative restriction, but we will stop it (exports) once it reaches a particular level," the source told reporters.

India's will not allow sugar exports on first come, first served basis for a third tranche of unrestricted overseas sales, Trade Minister Anand Sharma said on Wednesday.

In March, India allowed exports of a third tranche of one million tonnes of sugar but did not specify rules for such sales.

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