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The government on Friday permitted export of additional 745 tonnes of raw sugar under its tariff-rate quota (TRQ) to the US, which enables shipments to enjoy relatively low tariff.
TRQ is a quota for a volume of exports that enter the US at relatively low tariffs. After the quota is reached, a higher tariff applies on additional imports.
“Additional quantity of 745 MTRV (metric tonne raw value) of raw cane sugar, for export to the USA, under TRQ, up to September 30, 2020 has been notified,” Directorate General of Foreign Trade (DGFT) said in a public notice.
With this additional quantity, India has permitted exports of 9,169 tonne of raw sugar to the US under TRQ during the US fiscal year 2020.
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