| Date: |
23-06-2011 |
| Subject: |
US Increases India''s Sugar Import Quota Under TRQ |
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Washington, June 22 (PTI) The US today increased its import quota of raw sugar from India by 1,421 tonnes under a scheme -- tariff rate quota (TRQ) -- for the fiscal year 2011.
"Today, the Secretary of Agriculture announced an additional in-quota quantity for the TRQ for raw cane sugar for the remainder of FY 2011 (ending September 30)," the US
Trade Representative said in a statement.
The TRQ is a quota for a volume of imports that enters the US at relatively low tariffs. After the quota is reached, a higher tariff is applied on additional imports.
The US under tariff-rate quota (TRQ), allow imports of specified quantities of a product from countries at a relatively low tariff.
Under the additional TRQ of 108,862 tonnes, the US will import 1,421 tonnes of raw sugar from India.
With this addition, India''s quota has increased to 9,845 tonnes.
India had restricted exports of white sugar to check its rising prices, but recently allowed mills to export 5 lakh tonnes of the commodity as the output is likely to cross domestic consumption.
Source : news.in.msn.com
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