NEW DELHI: The government has permitted additional export of 3,569 tonnes of raw and refined sugar under the tariff-rate quota (TRQ) to the US. 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 to additional imports.
“Additional quantity of 3,569 tonnes of raw cane sugar and refined sugar for export to the US, under TRQ up to September 30, 2020, has been notified,” Directorate General of Foreign Trade (DGFT) said in a public notice.
It added that with this quantity, total sugar export to the US under TRQ during US fiscal year 2020 would be 12,738 tonnes.
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.
Source: indiatimes.com
