Govt bows to USA, allows 8,424 tonne raw sugar exports
The government has permitted export of 8,424 tonne raw sugar under its tariff-rate quota (TRQ) to the US, S, which enables shipments to enjoy relatively low tariff.
TRQ is a quota for a volume of exports that enter the US at relatively low tariffs. After the quota is reached, a higher tariff applies on additional imports.
“The quantity of raw sugar (8,424 tonnes) to be exported to USA under TRQ up to September 30, 2017 has been notified,” Directorate General of Foreign Trade (DGFT) said in a public notice.
India enjoys duty-free sugar exports to the US for up to 10,000 tonnes annually under preferential quota arrangement. India, the world’s second biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well.
The country had exported 1.1 million tonnes of sugar in the 2014-15 marketing year (October-September). Sugar production is estimated to decline to about 25 MT in 2015-16 marketing year, from 28.3 MT in the