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India notifies 8,424 tonnes of raw sugar exports to US under TRQ

The government on Friday permitted export of 8,424 tonnes of raw or white sugar under tariff-rate quota (TRQ) to the US, which enables shipments to enjoy relatively low tariff.

India notifies 8,424 tonnes of raw sugar exports to US under TRQ
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New Delhi

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. 

''The quantity of 8,424 tonnes of sugar (raw and/or white sugar) to be exported to the US under TRQ scheme from October 1 to September 30, 2022, has been notified,'' the Directorate General of Foreign Trade (DGFT) said in a public notice. 

India enjoys duty-free sugar exports to the US for up to 10,000 tonnes annually under the preferential quota arrangement. 

India, the world's second biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well. 

The country's sugar export rose 20 per cent to an all-time high of 7.1 million tonnes in the 2020-21 marketing year ended last month, on the back of better demand and financial assistance from the government. 

Sugar exports stood at 5.9 million tonnes in the marketing year 2019-20. 

According to ISMA, the sugar production is estimated to remain flat at 31 million tonnes in the marketing year 2021-22. 

The total availability of sugar is estimated to touch 39.5 million tonnes, including an opening stock of 8.5 million tonnes of sweetener.

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