The government on Wednesday allowed export of raw sugar in specified quantities to the US under the Tariff-Rate Quota (TRQ) till the end of December this year. Earlier it was allowed till 30 September.
The Directorate General of Foreign Trade (DGFT) said in a public notice, “The validity of export of raw sugar to the US under TRQ has been extended from September 30, 2022 to December 31, 2022.”
TRQ is a quota for export volumes that enter the US at relatively low tariffs. After the quota reaches its limit, a higher tariff is applied to additional shipments.
In May, the government allowed an additional export of 2,051 metric tonnes of raw sugar under TRQ to the US for its fiscal year ending September 30, 2022. With this quantity, the total sugar exports to the US under TRQ during its fiscal year 2022 would be 10,475 MT.
India, the world’s second largest producer and largest consumer of sugar, also shares a preferential quota arrangement with the European Union for sugar exports.