September 5, 2024
1 min read

India to export 8,606 tonne sugar to US under tariff rate quota

The allocated sugar export under the TRQ scheme is for the US fiscal year 2025….reports Asian Lite News

India has allocated 8,606 metric tonnes of sugar to be exported to the US under the Tariff Rate Quota scheme, according to a notification from the Directorate General of Foreign Trade (DGFT).

The allocated sugar export under the TRQ scheme is for the US fiscal year 2025.

The export of sugar (HS Code 17010000) to the US and EU under TRQ is currently ‘Free’, subject to certain contains.

“Certificate of Origin, if required, for preferential export of sugar to USA shall be issued by Additional Director General of Foreign Trade, Mumbai on the recommendation of Agriculture and Processed Food Products Export Development Authority (APEDA) regarding entity and quantity for which eligible,” said the DGFT notification.

“Effect of this Public Notice: The quantity of 8606 Metric Tonnes Raw Value (MTRV) of raw cane sugar to be exported to USA under TRQ scheme from 01.10.2024 to 30.09.2025 has been notified,” the notification added.

A tariff rate quota essentially is a quota for exports at relatively low duties. Once the limit is exhausted, a higher tariff applies to additional shipments.

India had extended the restrictions on the export of sugar until further orders, in October last year. Initially, the restrictions were imposed starting June 1 to October 31, 2022, and later extended by a year till October 31, 2023.

The restriction is, however, not applicable to sugar being exported to the EU and the US under the concession (CXL) and TRQ quota.

The idea behind the sugar export restriction initially was to make prices of sugar stable domestically. (ANI)

ALSO READ: Rahul bats for J&K statehood; slams Centre

Previous Story

Indian, South African Navy ink pact to boost submarine rescue ops

Next Story

India govt seals peace pacts with two armed groups in Tripura

Latest from -Top News

Trump Bans Travel from 12 Nations

The 12 countries that were banned include Afghanistan, Burma, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen….reports Asian Lite News US President Donald Trump has signed a proclamation

Jaishankar Flags Terror Threats at Central Asia Talks

Tajikistan Foreign Minister Sirojiddin Muhriddin, EAM Jaishankar acknowledged the need to combat terrorism External Affairs Minister (EAM) S. Jaishankar held bilateral discussions with his counterparts from Tajikistan and Kazakhstan on Thursday and

Pakistan’s Drug Crisis Deepens

Described as a “hidden epidemic,” the crisis highlights deep-rooted social, economic, and cultural challenges….reports Asian Lite News According to a recent report, Pakistan is in the grip of a growing drug addiction

Yunus denies revoking Bangabandhu’s honour

Bangladesh interim government rejects claims it revoked freedom fighter status of Bangabandhu and Mujibnagar leaders, affirming their honour and recognising all contributions to the Liberation War. The interim government of Bangladesh, led
Go toTop

Don't Miss

Anti-war rallies take place in southern California

The protesters also chanted such slogans as “Money for job

Mumbai’s Ramzan Bazar rolls out red carpet

As the government has lifted all the pandemic related curbs