India Allocates 8,606 Metric Tonnes of Sugar for US Export Under TRQ Scheme

India has allocated 8,606 metric tonnes of sugar to be exported to the US under the Tariff Rate Quota (TRQ) scheme for the fiscal year 2025, according to the Directorate General of Foreign Trade.

India has allocated 8,606 metric tonnes of sugar for export to the United States under the Tariff Rate Quota (TRQ) scheme, the Directorate General of Foreign Trade (DGFT) announced. This allocation pertains to the US fiscal year 2025.

The export process for this sugar, listed under HS Code 17010000, is currently unrestricted for both the US and EU markets, subject to certain conditions. The DGFT notification explains that a 'Certificate of Origin' will be issued by the Additional Director General of Foreign Trade in Mumbai, based on recommendations from the Agriculture and Processed Food Products Export Development Authority (APEDA).

'Effect of this Public Notice: The quantity of 8,606 Metric Tonnes Raw Value (MTRV) of raw cane sugar to be exported to USA under the TRQ scheme from 01.10.2024 to 30.09.2025 has been notified,' stated the DGFT. A tariff rate quota allows for exports at lower duties up to a specified limit; beyond this quota, higher tariffs are applied.

India had extended its restrictions on sugar exports in October of the previous year, with these restrictions in effect until further notice. Initially imposed from June 1 to October 31, 2022, the restrictions were extended until October 31, 2023. However, these limitations do not apply to sugar exported to the EU and US under the CXL and TRQ quotas.

The primary aim of these export restrictions was to stabilize domestic sugar prices. (ANI)

(With inputs from agencies.)