Comments
In a move expected to help the cash-starved industry, the government has removed the quantitative ceiling on exports of organic sugar.
Earlier, the government had kept a ceiling of 10,000 tonnes on organic sugar exports.
“The quantity ceiling for export of organic sugar has been removed till the time export of sugar is permitted freely,” Directorate General of Foreign Trade (DGFT) said in a notification.
However, it said the export of organic sugar would be permitted subject to registration of quantity with DGFT and certification by Agricultural and Processed Food Products Export Development Authority (APEDA).
In a public notice, the DGFT has also permitted export of 8,100 tonnes of raw sugar to the US under tariff rate quota (TRQ) by Indian Sugar Exim Corporation Ltd.
The 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 is applied on additional imports from India.
Sugar production of India is expected to be at 23.8 million tonnes in 2013-14, as against 25.1 million tonnes last year.
Last month, the Centre had decided to provide additional interest-free loan of up to Rs 4,400 crore to cash—starved sugar industry for paying cane arrears.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.