India allows additional 2,051 MT raw sugar exports to US under tariff-rate quota

New Delhi: The government has permitted additional export of 2,051 metric tonne of raw sugar under the tariff-rate quota (TRQ) to America for the US fiscal year ending 30 September, 2022, according to DGFT. 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 to additional imports. “Additional quantity of 2,051 MT of raw sugar, for export to the US, under TRQ up to 30 September, 2022, has been notified,” Directorate General of Foreign Trade (DGFT) has said in a public notice. It added that with this quantity, the total sugar export to the US under TRQ during US fiscal year 2022 would be 10,475 MT. 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. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.