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Indian-Commodity  :  Commodities  :  Sugar  :  Commerce Ministry extends raw sugar export to US under TRQ till October 31

Commerce Ministry extends raw sugar export to US under TRQ till October 31 (06-Sep-2017)

The commerce ministry has extended the last date of raw sugar export to the US under tariff rate quota (TRQ) till October. The Directorate General of Foreign Trade (DGFT) said that the last date of export of raw sugar to the US under TRQ quota for the US fiscal year 2017 (October 1, 2016 to September 30, 2017) has been extended till October 31 this year.

TRQ is a quota for a volume of exports that enter the US at relatively low tariffs. Once the quota is reached, a higher tariff kicks in on additional imports.

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.




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