DGFT News And NotificationsNo Comments
The commerce ministry has decided to prolong the raw sugar export to the US under tariff rate quota (TRQ) by extending the last date of export until October 31.
TRQ is a special quota for a volume of exports that can move into the US at comparatively low rates. Once the decided quota is reached, a higher rate applies to the additional imports.
The Directorate General of Foreign Trade (DGFT), has announced, in a public notification that “the last date of export of raw sugar to the US under TRQ quota for the US fiscal year 2017 (October 1, 2016-September 30, 2017) has been extended till October 31 this year.”
As per this preferential quota agreement, India gets to ship duty-free sugar exports to the US for up to a volume of 10,000 tonnes every year.
India is the second-largest producer and the largest consumer of sugar in the world. Besides the US, India also enjoys a preferential quota agreement for sugar export with the European Union.