| Date: |
14-10-2015 |
| Subject: |
Government fixes sugar export quota to EU & US for this year |
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NEW DELHI: Government today fixed an export quota of 10,000 tonnes of white sugar to the EU and 8,424 tonnes of raw sugar to the US under the existing CXL and TRQ provisions, for this year.
Availing the CXL concessions on export to the EU and the Tariff Rate Quota to the US, traders can export sugar to these destinations at relatively low tariff.
"Hereby allocates a quantity of 10,000 tonnes of white sugar for export of CXL Concessions sugar to European Union (EU)and 8,424 tonnes of raw sugar, out of non-levy (free sale) quota for export under TRQ to the USA," the Director General of Foreign Trade (DGFT) said in a notification.
The quantity of sugar should be exported in the 2015-16 marketing year (October-September).
The concessions for sugar exports would be subject to the presentation of a certificate of origin issued by the competent authority, the notification said.
To clear surplus stocks and help cash-starved mills clear over Rs 12,000 crore cane arrears to farmers, the government has fixed mandatory export of 4 million tonnes for 2015-16 marketing year.
As per the initial estimate of the Food Ministry, sugar production has been pegged at around 26 million tonnes for 2015-16, over 2 million tonnes lower than last year, on likely shortfall in Maharashtra and Karnataka because of poor monsoon.
This is almost similar to the projection made by the state governments but much lower than industry body ISMA's estimate of 27 million tonnes for this year.
The country had produced 28.1 million tonnes of sugar in the 2014-15 marketing year.
Source : economictimes.indiatimes.com
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