| Date: |
22-03-2016 |
| Subject: |
Govt permits export of 723 tonne of more sugar to US under TRQ |
The government permitted export of additional 723 tonne of raw cane sugar to the US under the tariff rate quota, which entitles shipments to low tariff rates.
"Additional quantity of 723 tonne of raw cane sugar to be exported to the US under TRQ (tariff rate quota) up to September 30, 2016 has been notified," the Directorate General of Foreign Trade (DGFT) said in a public notice.
DGFT, an arm of the Commerce Ministry, deals with export and import related activities.
TRQ is a quota for a volume of exports that enters the US at low tariffs. After the quota is reached, a higher tariff is applied on additional imports.
The DGFT also said that a certificate of origin, if required, for export of preferential sugar to the US, shall be issued by additional director general of foreign trade, Mumbai.
Sugar exports from India, the world's second-largest producer, are likely see an over 80 percent jump to 20 lakh tonnes in 2015-16 marketing year, even as the production is set to drop by 9 percent.
Sugar production in India, second to the Brazil's, fell for the first time this year with output dipping to 221.30 lakh tonnes till March 15 as against 221.57 lakh tonnes in the year-ago period.
Source : moneycontrol.com
|