Steps to stabilise food prices: Govt

Decisions to restrict sugar exports and allow duty-free imports of crude soyabean and sunflower oil are "precautionary, price monitoring mechanism" to stabilise prices of food items, the government said on Wednesday.

"The idea is to have stable prices and no undue spike (in prices) resulting from shortage," said Sudhanshu Pandey, secretary, food and public distribution, said during a media briefing.

The government had on Tuesday decided to cap export of sugar (raw, refined and white sugar) at 10 million tonnes in the current sugar season from June 1, 2022, and exempt customs duty and agriculture infrastructure development cess on 2 million metric tonnes each of imported crude soyabean and sunflower oil per year for two years.


These are the latest in a series of measures the government has announced in recent days to check rising prices across almost all items from fuel to vegetables and cooking oil. On Saturday, it had cut excise duty on petrol and diesel by ₹8 and ₹6 per litre, respectively.