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The government on Wednesday notified exports of 8,606 tonnes of raw cane sugar under the tariff-rate quota (TRQ) scheme to the US.
Shipments under the TRQ enjoy relatively low customs duty. After the quota is reached, a higher tariff applies on additional imports.
“The quantity of 5841 MT (raw/refined) sugar to be exported to EU and quantity of 8606 MTRV raw cane sugar to be exported to USA under TRQ scheme from October 1, 2022, to September 30, 2023 has been notified,” the Directorate General of Foreign Trade (DGFT) said in a public notice.
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 DGFT said that the quota will be operated by APEDA.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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