(1) The Central Government may, by notification in the Official Gazette, fix from time to time the quantity of sugar which may be exported during any period, and, in fixing such quantity, the Central Government shall have regard to—
        (a) the quantity of sugar available in India,
        (b) the quantity of sugar which, in its opinion, would be reasonably required for consumption in India,
        (c) the necessity for exporting sugar with a view to earning foreign exchange in the public interest.
    (2) The power conferred by sub-section (1) shall be so exercised as to ensure that the quantity fixed under that sub-section for any year does not exceed in the aggregate twenty per cent, of the quantity of sugar produced in India in the season ending with the month of October falling within that year