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India notifies 8,424 tonnes of raw sugar exports to US under TRQ

India notifies 8,424 tonnes of raw sugar exports to US under TRQ
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Oct 15 (PTI) The government on Friday permitted export of 8,424 tonnes of raw or white sugar under tariff-rate quota (TRQ) to the US, 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 8,424 tonnes of sugar (raw and/or white sugar) to be exported to the US under TRQ scheme from October 1 to September 30, 2022, has been notified," the 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 the 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''s sugar export rose 20 per cent to an all-time high of 7.1 million tonnes in the 2020-21 marketing year ended last month, on the back of better demand and financial assistance from the government.

Sugar exports stood at 5.9 million tonnes in the marketing year 2019-20.

According to ISMA, the sugar production is estimated to remain flat at 31 million tonnes in the marketing year 2021-22.

The total availability of sugar is estimated to touch 39.5 million tonnes, including an opening stock of 8.5 million tonnes of sweetener. PTI RR HRS

hrs


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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